HomeMy WebLinkAbout20181455.tiffRESOLUTION
RE: APPROVE AND ACCEPT REPLACEMENT ROAD MAINTENANCE COLLATERAL
REGARDING USE BY SPECIAL REVIEW PERMIT, USR-1767 - KONIG AG COMPANY
WHEREAS, the Board of County Commissioners of Weld County, Colorado, 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
WHEREAS, on January 19, 2011, the Weld County Board of Commissioners approved a
Site Specific Development Plan and Use by Special Review Permit, USR-1767, for Michael Konig,
57851 County Road 81, Grover, Colorado 80729, c/o Konig Ag Company, 37231 Highway 14,
Briggsdale, Colorado 80611, for a Mineral Resource Development Facility, including Open Pit
Gravel Mining (Konig Borrow Mine) on the following described real estate, to -wit:
NW1/4 of Section 11, Township 10 North, Range 62
West of 6th P.M., Weld County, Colorado
WHEREAS, pursuant to certain Conditions of Approval, on March 9, 2011, the Board
approved an Improvements Agreement According to Policy Regarding Collateral for
Improvements between the County of Weld, State of Colorado, by and through the Board of
County Commissioners of Weld County, and Konig Ag Company, with terms and conditions being
as stated in said agreement, and accepted collateral in the form of an Irrevocable Standby Letter
of Credit #2033702 from New West Bank, 3459 West 20th Street, Suite 114, Greeley, Colorado
80634, in the amount of $1,500.00, to be held indefinitely as Road Maintenance Collateral, and
WHEREAS, a hearing was held on April 2, 2018, at which time the Board deemed it
advisable to continue said matter to May 7, 2018, to allow for a work session to discuss the
replacement collateral, and
WHEREAS, a hearing was held on May 7, 2018, at which time the Board agreed to release
Irrevocable Standby Letter of Credit #2033702 from New West Bank, 3459 West 20th Street,
Suite 114, Greeley, Colorado 80634, in the amount of $1,500.00, and accept Company Check
#2277, drawn on Bank of Colorado, Eaton, Colorado, in the amount of $1,500.00, as replacement
collateral to be held indefinitely for the required Road Maintenance Collateral, and
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld
County, Colorado, that the Irrevocable Standby Letter of Credit #2033702 from New West Bank,
3459 West 20th Street, Suite 114, Greeley, Colorado 80634, in the amount of $1,500.00, be, and
hereby is, released, and Company Check #2277, drawn on Bank of Colorado, Eaton, Colorado,
in the amount of $1,500.00, be, and hereby is, accepted as replacement collateral to be held
indefinitely as Road Maintenance Collateral, and
BE IT FURTHER RESOLVED by the Board that the Clerk to the Board be, and hereby is,
directed to return said collateral to the appropriate issuing party.
4405389 Pages: 1 of 2
06/07/2018 12:57 PM R Fee:$0.00
Carly Koppes, Clerk and Recorder, Weld County, CO
Kfiri t! 't ildh�'�'�tiI II II
2018-1455
PL2098
APPROVE AND ACCEPT REPLACEMENT COLLATERAL - KONIG AG COMPANY
PAGE 2
The above and foregoing Resolution was, on motion duly made and seconded, adopted
by the following vote on the 7th day of May, A.D., 2018.
BOARD OF COUNTY COMMISSIONERS
WELD COUNTY, COLORADO
ATTEST:
ditiwt) W.e&o:ei
Weld County Clerk to the Board
BY: V..e.€4/
Deputy Clerk to the Boa
Steve Moreno, Ch- r
arbara Kirkmey-r, Pro-Te
Sean P. Conway
APP '1 'DASTOFXCUSED
Date of signature: 05-3/-18
ounty A ney
4405389 Pages: 2 of 2
06/07/2018 12:57 PM R Fee:$0.00
Carly Koppes, Clerk and Recorder, Weld County, CO
Julie A. Cozad
EXCUSED
Mike Freeman
2018-1455
PL2098
1111 Nr d@ia WHIN 14 11111
BOARD OF COUNTY COMMISSIONERS
PASS -AROUND REVIEW/Regular Agenda REQUEST
RE: BOCC Agenda Item — Replacement Road Maintenance Collateral:
Konig Ag Company — USR-1767
DEPARTMENT: Public Works DATE: 3/19/2018
PERSON REQUESTING: Evan Pinkham
Brief description of the issue:
The Department of Public Works received a request from the applicant, Konig Ag Company, requesting that the
Board of County Commissioners accept $1500.00, for replacement of the currently held letter of credit for road
maintenance collateral.
Assistant County Attorney Frank Haug has reviewed the Improvements Agreement and Collateral requirements
and recommends acceptance of the collateral.
What options exist for the Board?
1. Have this BOCC Hearing item be placed on the next available agenda as part of the Consent
Agenda.
2. Have this BOCC Hearing item be placed on the next available agenda as part of the Regular Agenda.
Weld County Collateral List:
Konig Ag Company (2011-0642) PL2098 USR #1767
Improvements Agreement Irrevocable Standy Letter of
Credit #3782033702 from Bank of Colorado
Expires 03/08/16 with auto renewal
Unless 90 day notice
$1,500.00
Recommendation:
The Department of Public Works, and the County Attorney's Office are recommending approval of the acceptance
of new collateral for Konig Ag Company — (USR-1767).
Schedule as Consent Schedule as Regular
BOCC Bearing Item Other/Comments:
Agenda BOCC Item
Sean P. Conway
Julie A. Cozad
Mike Freeman
Barbara Kirkmeyer, Pro-Tem
Steve Moreno, Chair
2018-1455
PL 9092"
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4
is DOCUMENT HAS AtDREi),`B
KonL Ag Co
37231 Hwy 14
Briggsdale, CO 80611
PAY TO THE Department of Public Works
ORDER OF
ti HOUND ON WHITEPAPER AND ORIGINAL DOCUMENT SECURITY SCREEN ON BACK WITH PADLOCK SECURITY ICON
Bank of Colorado
Eaton, CO 80615
82-697/1070
2277
3/6/2018
One Thousand Five Hundred and OO/100, ********* * ************** ************ ****, **.
DOLLARS
Department of Public Works
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CLERK TO THE BOARD
PHONE: (970)400-4217
FAX: (970) 336-7233
1150 O STREET
P. O. BOX 758
GREELEY, CO 80632
June 29, 2018
Konig Ag Company
37231 HWY 14
Briggsdale, CO 80611
RE Accept Replacement Collateral — USR-1767
Dear Mr. Konig:
Attached hereto please find a copy of the Board of County Commissioner's Resolution. dated
May 7, 2018, releasing the Irrevocable Standby Letter of Credit, #2033702 from New West Bank,
3459 W. 20th Street, Suite 114, Greeley, CO 80634, in the amount of $1,500.00: and, accepting
replacement Collateral in the form of a Company Check #2277 from Konig Ag Company, drawn
on Bank of Colorado, in the amount of $1.500.00. The original Letter of Credit will be returned to
New West Bank by Certified mail. If you have any questions, please contact me at (970) 400-
4217, or email tjuanicorena@weldgov.com.
Very truly yours,
Tisa Juanicota?ia
Deputy Clerk to the Board
Enclosure
cc: Evan Pinkham, Department of Public Works
Tom Parko, Department of Planning Services
Clerk to the Board File PL2098
CLERK TO THE BOARD
PHONE: (970)400-4217
FAX: (970) 336-7233
1150 O STREET
P. O BOX 758
GREELEY, CO 80632
June 29, 2018
New West Bank
3459 W. 20th Street, Suite 114
Greeley, CO 80634
Attn: Mr. Paul Knapp and/or Mr. Lonnie Ochsner
RE: Accept Replacement Collateral — USR-1767
Dear Mr Knapp and/or Mr. Ochsner:
Attached hereto please find a copy of the Board of County Commissioner's Resolution, dated
May 7, 2018, releasing the Irrevocable Standby Letter of Credit. #2033702 from New West Bank.
3459 W. 20th Street, Suite 114. Greeley, CO 80634, in the amount of $1,500.00. The original
Letter of Credits are enclosed. If you have any questions, please contact me at (970) 400-4217,
or email tjuanicorena@weldgov.com.
Very truly yours,
Tisa Juani orena
Deputy Clerk to the Board
Enclosure
cc- Evan Pinkham, Department of Public Works
Tom Parko, Department of Planning Services
Clerk to the Board File PL2098
(A Bank of Colorado
THERE ' 5 ONLY ONE
Konig D ON4 AN*
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atie•
a
To
Dec
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., It May Concern:
The above named Irrevocable Letter of Cre
expiration date to March 8, 2018.
O
"Mona
as%
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.JNEPC
etter of Credit #37820 02
One Thousand F Hundred ($1, .00)
s hereby amended to change the
All terms and requirements of the origi <<-.1 Letter o . edit remain the same.
Sincerely,
Date:
Lonnie Ocirsner
Market President
EQUAL
HOUSING
LENDER MEMBER FDIC
/7 Dater
Paul Knapp
Branch President
www. bankofcolorado. corn
3459 W. 20th Street, Ste 114
Greeley, CO 80634
Phone: (970) 378-1800
Fax: (970) 378- 1801
yei (1 (21
Bank of Colorado
March 11,
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...onditional ► ter of Credit 1 82033702
eQ
.t of : One Thousand Fi unde d ($1,500.00)
To 1+r horn It May Concern:
RE IVED
1 7 2015
WELD COUNTY
COMMISSIONERS
The Acne named Irrevocable Letter Credi . ' ' hereby amended to change the
expiration date to March 8, 2016.
All ierms and requirements of e original Letter o ~ edit remain the same.
Sincerely,
onn i - : - • ne
Branch Preside
Date0 /1-
r
Paul K Kna
Branch V ice Preside
EQUAL
"°w1" MEMBER FDIC
LENDER
Data -am -1C
www.bankofcolorado.com
ust 20th Street Suite 114
,, •�>le�, r '( ) Mi►f,34
I'Hf le: ('rill, 1.78-18 00
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IRREVOCABLE r
TDBY LETTER OF CREDIT FOR
BOARD OF COUNTY Cr 'NERS OF WELD COUNTY, COLORADO
h8,2011
Bene
OF WELD COUNTY, COLORAD
Effective immediately, at the equest of and on be . of Konig Ag Co, we, New West
Bank, hereby issue this Letter Credit #20337 or On thousand five hundred dollars
($1,500.00) in favor of the Bo. of County missioners of Weld County, Colorado,
(hereinafter "Beneficiary"). This - tter of P - dit is issued to permit Konig Ag Co. to
meet the requirements of the "Imp e - s Agreement According To Policy Regarding
Collateral For Improvements" Koni: ' ow Pit (USR-1767) dated 3/9/2011,
(hereinafter "Improvements Agree • '). This amount may be drawn on at our office
located at 3459 W. 20th Street, S 11 ' Greeley, CO 80634.
We hereby undertake to hon our sight • ' drawn on us bearing upon its face the
clause: "Drawn under the ' • of New Wes ; ank Letter of Credit Number 2033702,
dated March 8, 2011", - n accompanied by ► - following:
1. The origin. this Letter of Credit and . ubsequent amendments, if any; and
2. Origin - • f Beneficiary's statement purporte • anually signed by a member of
the Board o ounty Commissioners of Weld County, t orado stating one or more of
the follo - g:
"The Board of County Commissioners of We ' ounty, Colorado hereby
ce es that it is entitled to draw US Dollars (Written a • unt of Withdrawal)
) under the Bank of New West Bank, Letter of Credit Num • 2033702 dated March
• , 2011 because Konig Ag Co. has defaulted on its obligations un • • he "Improvements
Agreement According To Policy Regarding Collateral For Improvem s" Konig Borrow
Pit (USR-1767) dated 3/9/2011, by (State Nature o - fault).
b. "The Board of County Commissioners of Weld County, Col • ' ' o hereby
certifies that it is entitled to draw US Dollars (Written Amount of Wi drawal)
($ ) under Bank of New West Bank, Letter of Credit Number 2033702 dated h 8,
2011 because Konig Ag Co. has not, to the satisfaction of the Board of County
Commissioners of Weld County, Colorado, within sixty (60) days of the exp' . tion date
this Letter of Credit replaced or renewed this Letter of Credit."
The bove statements are acceptable if presented in the form of a Res • tion formally
adopt - by the Board of County Commissioners of Weld County, C • . rado.
Additio = lly, a copy of one or both of the above statements may b; b ubmitted by
facsimile . smission or by electronic mail, if said transmission s urce can be verified
by us.
3. It is a c . . ition of this Irrevocable Letter of Credit . t it be considered
automatically ext: • ed without amendment for additiona .eriods of one year from the
present or any futur: - xpiration date unless we notify y ' . , the Beneficiary, in writing, not
less than ninety (90) . s before such date that we el not to extend this Letter of Credit
for such additional term This notice will be set to t address herein sent by certified
mail, return receipt reque ' - d. Upon your receipt . ' aid notice, you may draw on us at
sight for the balance remai g under this Letter Credit within the then applicable
expiration date.
4. Partial drawings under th Letter of redit are permitted.
5. For purposes of the Letter o re
one or more of its obligations under t
Regarding Collateral For Improveme
is/are not met within the time fram- . s
6. This Credit shall be tran
Board of County Commission:,
48 of UPC 500.
We hereby promise you
conditions of this Letter
by registered mail on o
any future applicable
t
t, Konig Ag Co. shall be deemed in default if
Improvements Agreement According To Policy
Konig Borrow Pit (USR-1767) dated 3/9/2011
orth in said Improvements Agreement.
rable, as •
of Weld Co
ected by an authorized representative of the
ty, Colorado, in compliance with Article
a draft drawn under an
Credit will be duly honor
.efore the current expiration d.
piration date as described herein.
in compliance with the terms and
by us if presented at this office or
, currently March 8, 2012, or
Draft presentation . efore 10:00 a.m. Mountain Standard Tim - 'i n any Business Day shall
be honored befo 5:00 p.m. on the same Business Day by wire . sfer in immediately
available fund • any account designated by an authorized repress ' tative of Board of
County Comssioners of Weld County, Colorado, (or any other re...nable means
specified by .aid authorized representative). Draft presentation betwe- 10:00 a.m. and
5:00 p.m. ountain Standard Time on any Business Day shall be honor- before 5:00
p.m. on following Business Day by wire transfer in immediately availae funds to
any ac • t designated by an authorized representative of Board of County
Co ssioners of Weld County, Colorado, (or any other reasonable means sp- ied by
said thorized representative). As used in this Credit, the term "Business Day" s'
mean a day of - r than Saturday or Sunday or any day in which Banking Institutio n
the State of Col ado are authorized or required by law to close.
This Letter of Cre . .. sets forth in full the terms of our undertaking, and suc • dertaking
shall not in any way ► modified, amended, amplified or limited by refer ce to any
document, instrument • agreement referred to herein or to which this er of Credit
relates.
Except to the extent terms h - of are inconsistent with its provis' s, in which case this
Letter of Credit shall govern, ► 's Letter of Credit is subject to e Uniform Customs and
Practice for Documentary Cred (1993 Revision), the Inte ' . tional Chamber of
Commerce Publication No. 500.
Paul R. Knapp
Vice President
New West Bank
3459 W. 20th Street, Suite 114
Greeley, CO 80634
Phone: 970.378.1800
Fax: 970.378.1801
SENDER: COMPLETE THIS SECTION
, • Complete items 1, 2, and 3.
• Print your name and address on the reverse
so that we can return the card to you.
• Attach this card to the back of the mailpiece,
or on the front if space permits.
1. Article Addressed to:
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2. Article Number (Transfer from service label)
7016 0750 0000 7938 4139
PS Form 3811, July 2015 PSN 7530-02-000-9053
COMPLETE THIS SECTION ON DELIVERY
A. Signature
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B. Received by (Printe
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D. Is delivery address different from item 1? O Yes
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3. Service Type
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'<Gertified Mail®
❑ Certified Mail Restricted Delivery
❑ Collect on Delivery
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isured Mail
isured Mail Restricted Delivery
aver $500)
SENDER: COMPLETE THIS SECTION
• Complete items 1, 2, and 3.
■ Print your name and address on the reverse
so that we can return the card to you.
• Attach this card to the back of the mailpiece,
or on the front if space permits.
1. Article Addressed to:
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❑ Signature ConfirmationTM
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Domestic Return Receipt
B Received •y (Print: • Name)
❑ Agent
QAddressee
C. Date of D ivery
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D. Is delivery address different from item 17 Yes
If YES, enter delivery address below: O No
2. Article Number (Transfer from service label)
7016 0750 0000 7938 4146
PS Form 3811, July 2015 PSN 7530-02-000-9053
3. Service Type
Adult Signature
O Adult Signature Restricted Delivery
Certified Mail®
O Certified Mail Restricted Delivery
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insured Mail
isured Mail Restricted Delivery
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❑ Priority Mail Express®
❑ Registered MailtM
❑ Registered Mail Restricted
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❑ Return Receipt for
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Domestic Return Receipt
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CERTIFIED MAIL® RECEIPT
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