HomeMy WebLinkAbout2012-119RESOLUTION N0.2012- ii9
A RESOLUTION OF THE BOARD OF COUNTY
COMMISSIONERS OF INDIAN RIVER COUNTY,
FLORIDA, DECLARING DEFAULT BY RANGE
ROAD MINE, LLC IN ITS OBLIGATION TO FULFILL
THE PERFORMANCE OF COMPLIANCE WITH AND
RESTORATION OF SITE PLAN APPROVAL FOR
PHASE 2 OF ITS SAND MINE (HAMMOND SAND
MINE), AND AUTHORIZING STAFF TO MAKE
SIGHT DRAFT AGAINST NORTHERN TRUST, N.A.
IRREVOCABLE STANDBY LETTER OF CREDIT
NO. SLC500481 DATED OCTOBER 16, 2008, AS
AMENDED.
WHEREAS, Range Road .Mine, LLC posted Northern Trust, N.A.
Irrevocable Standby Letter of Credit No. SLC500481, with amendments, in the
combined amount of $31,300.00 to fulfill the performance of compliance
($18,000.00) with the conditions of site plan approval for Phase 2 (Site Plan No.
SP -MA -04-08-51/2004030073-40839) and restoration ($13,300.00) of the Phase
2 site.
WHEREAS, Indian River County, as the beneficiary of the irrevocable
standby letter of credit, received a Termination Notice/Notice of Non -Renewal of
the irrevocable letter of credit, with the final expiration date of the Northern Trust,
N.A. Irrevocable Standby Letter of Credit, as amended, being December 9,
2012; and
WHEREAS, under the terms of the amended Northern Trust N.A.
Irrevocable Standby Letter of Credit No. SLC500481, in the event the bank
provides proper notice to the County of its intent not to renew the irrevocable
1
RESOLUTION N0.2012-119
standby letter of credit, and customer does. not provide acceptable alternative
security, the County shall have the right to drawn on the letter of credit,
notwithstandinU the lack of non-compliance with County ordinance; and
WHEREAS, Range Road Mine, LLC has not provided acceptable
alternaIive security,
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY
COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA:
1. That Range Road Mine, LLC (applicant) has defaulted under the
terms or conditions of Indian River County Ordinance 934.07, and that the
amount of the draft represents the amount required by the County to fulfill the
performance of compliance ($18,000.00 -Phase 2) with the conditions of site
plan approval (Site Plan No. SP -MA -04-08-51/2004030073-40839) or restoration
($13,300.00) of the site.
2. The Office of Management and Budget is directed to make sight
draft marked "DRAWN ON IRREVOCABLE LETTER OF CREDIT OF
NORTHERN TRUST, NA, MIAMI, FLORIDA, NO. SLC500481" and accompany
the sight draft with this resolution. The draft must be presented no later than
December 9, 2012 at the following address: Nort
hern Trust, NA, 700 Brickell
Avenue, Miami, Florida 33131, Attn: Lett
er of Credit Dept.
The resolution was moved for adoption by Commissioner o�Bryan, and
the motion was seconded by Commissioner ��r
a vote, the vote was as follows:
2
, and, upon being put to
RESOLUTION NO. 2012-119
Chairman Joseph E. Flescher Aye
Vice Chairman Wesley S. Davis Aye
Commissioner Tim Zorc Ave
Commissioner Peter D. O'Bryan Aye
Commissioner Bob Solari Aya_
The Chairman thereupon declared the resolution duly passed and adopted this
4th day of December, 2012.
BOARD OF COUNTY COMMISSIONERS
INDIAN RIVER COUNTY, FLORIDA
By
ATTEST: Jeffrey R Smith, Clerk
of Court and Comptroller
By: OA&e -
eputy Clerk
3
APPROVED AS 70
AND LEGALSUFF"
BY �=+-LLIA K. DEBRAAL
DEPUTYCOUNTY ATTORNEY