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I <br /> RESOLUTION NO , 2012 = 119 <br /> standby letter of credit, and customer does . not provide acceptable alternative <br /> security, the County shall have the right to drawn on the letter of credit , <br /> notwithstanding the lack of non-compliance with County ordinance ; and <br /> WHEREAS , Range Road Mine , LLC has not provided acceptable <br /> alternative security , <br /> NOW, THEREFORE , BE IT RESOLVED BY THE BOARD OF COUNTY <br /> COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA : <br /> 1 . That Range Road Mine , LLC (applicant) has defaulted under the <br /> terms or conditions of Indian River County Ordinance 934 . 07 , and that the <br /> amount of the draft represents the amount required by the County to fulfill the <br /> performance of compliance ($ 18 , 000 . 00 - Phase 2 ) with the conditions of site <br /> plan approval (Site Plan No . SP-MA-04-08=51 /2004030073-40839) or restoration <br /> ($ 13 , 300 . 00) of the site . <br /> 2 . The Office of Management and Budget is directed to make sight <br /> draft marked " DRAWN ON IRREVOCABLE LETTER OF CREDIT OF <br /> NORTHERN TRUST , NA , MIAMI , FLORIDA , NO . SLC500481 " and accompany <br /> the sight draft with this resolution . The draft must be presented no later than <br /> December 9 , 2012 at the following address : Northern Trust , NA , 700 Brickell <br /> Avenue , Miami , Florida 33131 , Attn : Letter of Credit Dept . <br /> The resolution was moved for adoption by Commissioner o ' Bryan , and <br /> the motion was seconded by Commissioner 9�r and , upon being put to <br /> a vote , the vote was as follows : <br /> 2 <br />