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RESOLUTION NO. 2002-_Z2 <br /> NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY <br /> COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA: <br /> 1. That The Indian River Club, Ltd. has defaulted under the terms of <br /> the contract for construction of required improvements PD-00-02-04- <br /> RIA(99110164-24276), and that the amount of the draft represents the amount <br /> required by the County to fulfill the performance of said contract for the <br /> construction of required improvements. <br /> 2. The Office of Management and Budget is directed to make sight <br /> draft marked "DRAWN UNDER IRREVOCABLE LETTER OF CREDIT NO. 2000- <br /> 12 OF FIRST NATIONAL BANK & TRUST COMPANY OF THE TREASURE <br /> COAST" and accompany the sight draft with this resolution. The draft must be <br /> presented not later than January 11, 2002 at the following address: First <br /> National Bank and Trust Company, 3730 7th Terrace, Vero Beach, Florida <br /> 32960, Attn: Mr. Jay W. Hart, Senior Vice President. <br /> The resolution was moved for adoption by Commissioner Ginn , and <br /> the motion was seconded by Commissioner Adams , and, upon being put to <br /> a vote, the vote was as follows: <br /> Commissioner Caroline D. Ginn Aye <br /> Commissioner Ruth M. Standbridge Aye <br /> Commissioner Fran B. Adams Aye <br /> Commissioner Kenneth R. Macht Aye <br /> Commissioner John W. Tippin AyP <br /> 12/01 RESO(LEGAL)WGC/nhm 2 <br />