Laserfiche WebLink
SEP 111955 <br />adopted Resolution 85-88 authorizing the re- <br />lease of $90,000 from the Old Sugar Mill <br />Estates Unit Three escrow account. <br />RESOLUTION 85-88 <br />RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF INDIAN RIVER <br />COUNTY, FLORIDA AUTHORIZING THE RELEASE OF A PORTION OF THE <br />FUNDS HELD UNDER THE TERMS OF AN ESCROW AGREEMENT BETWEEN <br />BEINDORF AND ASSOCIATES, INC., THE FIRST BANKERS OF INDIAN RIVER <br />COUNTY, AND INDIAN RIVER COUNTY TO GUARANTEE THE CONSTRUCTION OF <br />REQUIRED IMPROVEMENTS IN OLD SUGAR MILL ESTATES UNIT THREE <br />SUBDIVISION. <br />WHEREAS, Indian River County (County), Beindorf and <br />Associates, Inc. (developer), and THE FIRST BANKERS of Indian <br />River County (Bank) have entered into a cash deposit and escrow <br />agreement; and <br />WHEREAS, under the terms of said agreement, the Developer <br />has made a written request for disbursement of funds held to <br />guarantee required improvements, and has submitted an engineer's <br />certification that all required improvements have been <br />constructed and are complete; and <br />WHEREAS, under the terms of said agreement, the Public <br />Works Director has caused an inspection of the required <br />improvements and is satisfied that all required improvements <br />have been completed, and recommends a disbursement of a certain <br />portion of the funds held in escrow by the Bank. <br />Now, therefore, be it resolved by the Board of County <br />Commissioners of Indian River County, Florida that: <br />Funds from the escrow account in the amount of $90,000.00 <br />be disbursed by Bank to Developer or to any third party or <br />parties upon which Bank and Developer may agree. Funds in <br />the amount of $25,000.00 shall remain in the escrow account <br />under the terms of the existing agreement and until a <br />maintenance bond is submitted pursuant to section 8(b) of <br />the subdivision and platting ordinance. <br />The foregoing resolution was offered by Commissioner <br />Scurlock who moved its adoption. The motion was <br />seconded by Commissioner Wndtk, , and upon being <br />put to a vote, the vote was as follows: <br />Chairman Patrick B. Lyons Aye <br />Vice -Chairman Don C. Scurlock, Jr. Aye <br />Commissioner Richard N. Bird Aye <br />Commissioner Margaret C. Bowman Aye <br />Commissioner William C. Wodtke, Jr. Aye <br />The Chairman thert�pon declared the resolution duly passed <br />and adopted this ?M day of September ,1985. <br />BOARD COUNTY COMMISSIONERS <br />OF I RIVER COUNTY, FLORIDA <br />.ATRICK B. LYON <br />r I <br />v / CHAIRMAN <br />Attest: <br />FREDA WRIGHT, C/Le�p� Q L�IJ <br />STATE OF FLORIDA C-1 - e <br />COUNTY OF INDIAN RIVER <br />% ..77 <br />PAGE <br />BOOK 7 <br />-I <br />