6/25/1980 - Laserfiche WebLink

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CHECKED WITH ZONING DIRECTOR WALKER AND FOUND THERE HAD BEEN A CHANGE IN THE SYSTEM, HE INFORMED MR. VICKERS OF THIS. THE ADMINIS- TRATOR CONTINUED THAT THE BOARD IS AWARE OF HIS FEELINGS ABOUT SURETY BONDS. YOU CANT WRITE OFF WHAT IT COSTS THE COUNTY TO COLLECT ON THEM, AND HE PREFERRED CASH BONDS OR SOME OTHER WAY OF PROTECTING THE COUNTY. VICE CHAIRMAN LAY ASKED THE ATTORNEY ABOUT THE LEGALITY OF THE13OARDACCEPTING AN'' IRREVOCABLE LETTER OF CREDIT FOR A MINING PERMIT, FOR INSTANCE. ATTORNEY COLLINS STATED THAT HIS ATTITUDE WOULD BE THAT ANY LEGAL SUBSTITUTE FOR CASH PROBABLY WOULD HAVE TO BE ACCEPTED. HE NOTED THAT THE COUNTY HAS ESTABLISHED A POLICY BECAUSE OF THE DIFFICULTY OF ENFORCING SURETY BONDS, THAT THEY WOULD PREFER TO SEE A CASH BOND. HE BELIEVED THAT A LETTER OF CREDIT IS PREFERAB.JLE TO A SURETY BOND. COMMISSIONER WODTKE ASKED IF WE COULD WRITE SOMETHING INTO THE ORDINANCE AS TO THAT TYPE OF DEPOSIT BEING ACCEPTABLE, OR WHETHER THE ATTORNEY WAS SAYING THAT WE WOULD HAVE TO ACCEPT ANY TYPE OF DEPOSIT THEY WANT TO GIVE US, ATTORNEY COLLINS FELT THE BOARDS POSITION HAS BEEN THAT IT REQUIRES CASH, BUT HE FELT THE COUNTY CAN TAKE A SUBSTITUTE AT THEIR DISCRETION. HE STATED THAT HE WAS RELUCTANT TO WRITE A SUB- STITUTE INTO THE ORDINANCE BECAUSE CASH IS THE COUNTY'S BEST SECURITY. VICE CHAIRMAN LOY NOTED THAT OUR EXPERIENCE WITH SURETY BONDS WAS SO BAD THAT FOR A WHILE WE DID TRY TO PUT EVERY LITTLE DEPOSIT IN A SAVINGS & LOAN ACCOUNT AT THE GOING RATE, WE CHANGED OUR POLICY IN THAT REGARD, HOWEVER, AND SHE BELIEVED THAT TODAY WE MAKE ARRANGEMENTS AS THE INDIVIDUAL DEVELOPER COMES IN. ATTORNEY COLLINS AGREED THAT AVENUE IS AVAILABLE, ADMINISTRATOR JENNINGS POINTED OUT THAT THE PROBLEM IS THAT MR. VICKERS PUT UP $10,000 IN DECEMBER OF 1978, AND APPARENTLY THE QUESTION OF INTEREST WAS NOT ADDRESSED AT THAT TIME. 21 r JUN 2 5 19 80 Bam pnf 8lu