HomeMy WebLinkAbout2006-090 RESOLUTION NO. 2006- 090
A RESOLUTION OF THE BOARD OF COUNTY
COMMISSIONERS OF INDIAN RIVER COUNTY,
FLORIDA, DECLARING DEFAULT BY THE
FOUNTAINS AT AMBER LAKES, LLC, IN ITS
OBLIGATION TO COMPLETE. REQUIRED
IMPROVEMENTS TO THE FOUNTAINS AT AMBER
LAKES SUBDIVISION, AND AUTHORIZING STAFF
TO MAKE SIGHT DRAFT AGAINST HARBOR
FEDERAL SAVINGS BANK IRREVOCABLE
LETTER OF CREDIT NO. 421.
WHEREAS, on April 5, 2005 the Board of County Commissioners of
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Indian River County approved a Contract for Construction of Required
Improvements No. SD-03-02-07-CFC (2002050088) relating to The Fountains at
Amber Lakes Subdivision; and
WHEREAS, to guaranty the completion of those required improvements,
the Developer, The Fountains at Amber Lakes, LLC, posted a Harbor Federal
Savings Bank Irrevocable Letter of Credit No. 421 in the amount of $210,028.33,
expiring on July 6, 2006; and
WHEREAS, that agreement to construct required subdivision
improvements has not been complied with.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY
COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA:
1 . That The Fountains at Amber Lakes, LLC has defaulted under the
terms of the aforementioned Contract for Construction of Required
Improvements.
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RESOLUTION NO. 2006- 090
2. The amount of the draft represents the amount required by the
County to fulfill the performance of said Contract for Construction of Required
Improvements.
3. Office of Management and Budget is directed to present a sight
draft in the amount of $210,028.33 marked "DRAWN ON IRREVOCABLE
LETTER OF CREDIT NO. 421 OF HARBOR FEDERAL SAVINGS BANK" to
Harbor Federal Savings Bank, 100 S. Second Street, Fort Pierce, Florida 34950
on or before July 5, 2006.
The resolution was moved for adoption by Commissioner Bowden , and
the motion was seconded by Commissioner Davis , and, upon being put to
a vote, the vote was as follows:
Chairman Arthur R. Neubergerer Aye
Vice Chairman Gary C. Wheeler Aye
Commissioner Wesley S. Davis Aye
Commissioner Thomas S. Lowther Aye
Commissioner Sandra L. Bowden Aye
The Chairman thereupon declared the resolution duly passed and
adopted this 20th day of June, 2006.
BOARD OF COUNTY COMMISSIONERS
INDIAN RIVER COUNTY., FLORIDA
B GZ.A
Arthur R. Neub , Chairm n
ATTEST:-Jeffrey K. Barton, Clerk
APPROVED AS TO FORM
By: r+ AND LEGAL SUFFIC Y
-,.tDeputy.Clerk dwall, -�—r'
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2 WILLIAM G.COLLINS 0
`j COUNTY ATTORNtSY
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