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