HomeMy WebLinkAbout910595.tiff AH23097€13
RESOLUTION
RE: APPROVE CANCELLATION AND RELEASE OF LETTER OF CREDIT IN THE AMOUNT OF
$82,290.00 FOR KAHN SUBDIVISION (WATERFORD RANCH)
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o U WHEREAS, the Board of County Commissioners of Weld County, Colorado,
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pursuant to Colorado statute and the Weld County Home Rule Charter, is vested
~ with the authority of administering the affairs of Weld County, Colorado, and
i❑7 WHEREAS, by Resolution on February 12, 1990, the Board did approve an
O 3 amendment to the Improvements Agreement regarding collateral for improvements and
o did accept a Deed of Trust, in the amount of $57,240.00, as collateral for the
v} W Kahn Subdivision (Waterford Ranch) , and
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O WHEREAS, it was determined by the Board that Irrevocable Standby Letter of
W Credit #11-13305 in the amount of $82,290.00, drawn on the Central Bank of
Denver, is no longer necessary as collateral for said Subdivision, and
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o � WHEREAS, the Board deems it advisable to cancel and release said
W Irrevocable Standby Letter of Credit.
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O1 U NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld
o H County, Colorado, that Irrevocable Standby Letter of Credit 011-13305 in the
Hamount of $82,290.00, drawn on the Central Bank of Denver, concerning the
r+ cn Improvements Agreement for Kahn Subdivision (Waterford Ranch) be, and hereby is,
a cancelled and released.
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r-• w BE IT FURTHER RESOLVED that the Clerk to the Board be, and hereby is,
o directed to return said Letter of Credit to Central Bank of Denver for
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r1 cancellation and release of same.
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Wx The above and foregoing Resolution was, on motion duly made and seconded,
adopted by the following vote on the 15th day of July, A.D. , 1991.
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M d BOARD OF COUNTY COMMISSIONERS
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ATTEST: limilkiteth WELD COUNTY, CO RADO
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Weld County Clerk to the Board
%I; Gordon . yIMF rman
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By: a %
Deputy g etWto. tie Board Geo e Kennedy, Pro-Tem
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APPROVED AS TO FORM: � C2��I/�P�,t"
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W. H. Webster
910595
P .r. PL1027
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