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5/•,b OSS <br />70 <br />RESOLUTION NO. 2005- 050 <br />A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF INDIAN <br />RIVER COUNTY DELEGATING TO THE COUNTY ADMINISTRATOR OR <br />DESIGNEE THE AUTHORITY TO CALL LETTERS OF CREDIT OR CASH <br />ESCROW AGREEMENTS ISSUED UNDER SECTION 913.10 OF THE CODE <br />OF INDIAN RIVER COUNTY. <br />WHEREAS, pursuant to section 913.10 of The Code of Indian River County, the Indian River <br />County Board of County Commissioners (Board) routinely receives letters of credit and cash escrow <br />agreements (collectively referenced as "security instruments") from developers as surety for the <br />completion and/or maintenance of required subdivision improvements; and <br />WHEREAS, the Departments of Management and Budget, Community Development, Public <br />Works, Utility Services, and the County Attorney's Office monitor the expiration date and the <br />compliance by the developer with the obligations set forth in the contracts secured by security <br />instruments; and <br />WHEREAS, when the required work has not been completed or maintained within the <br />specified time, it is in the County's best interest to be able to call a security instrument expeditiously; <br />and <br />WHEREAS, The Code of Indian River County section 101.05.1.q. allows the Board to <br />authorize the County Administrator, or his designee, to perform other duties on behalf of the Board; <br />NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS <br />OF INDIAN RIVER COUNTY that: <br />The Board hereby delegates the authority to the County Administrator, or designee, to call any <br />security instrument held pursuant to section 913.10 of The Code of Indian River County, upon the <br />request of, as applicable, the Directors or designees of the Community Development, Public Works, <br />and/or Utility Services Departments, and with the approval signatures of the County Attorney, or <br />designee, and the Director of the Office of Budget and Management or designee. <br />The resolution was moved for adoption by Commissioner Neuberger , and the <br />motion was seconded by Commissioner Davi s , and, upon being put to a vote, the <br />vote was as follows: <br />Chairman Thomas S. Lowther <br />Vice Chairman Arthur R. Neuberger <br />Commissioner Wesley S. Davis <br />Commissioner Gary C. Wheeler <br />Commissioner Sandra L. Bowden <br />Aye <br />Aye <br />Aye <br />Aye <br />Aye <br />The Chairman thereupon declared this resolution duly passed and adopted this fOth day of <br />May , 2005. <br />Attest,; <br />By_ <br />Barton, CI k <br />f• <br />�. <br />• <br />• <br />Deputy Clerk_ <br />r CVEt) A5 TO FORM <br />7.4 - p ,_.;•••,‘-‘,,;:y; <br />/T F RIA Z?'-gT'// <br />ASSIS ANT COUN ��ORNE <br />INDIAN RIVER COUNTY, FLORIDA <br />By <br />Thomas S. Lowther, Chairman • <br />Board of County Commissioners <br />