HomeMy WebLinkAbout1985-082•4
40
RESOLUTION 85- 82
® RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF INDIAN RIVER
COUNTY, FLORIDA AUTHORIZING THE RELEASE OF A PORTION OF THE
FUNDS HELD UNDER THE TERMS OF AN ESCROW AGREEMENT BETWEEN SALAMA
DEVELOPMENT CORPORATION, UNITED SAVINGS OF AMERICA, AND INDIAN
RIVER COUNTY TO GUARANTEE CONSTRUCTION OF REQUIRED IMPROVEMENTS
IN ATLANTIS SUBDIVISION.
WHEREAS, Indian River County (County), Salama Development
Corporation (Developer), and United Savings of America (Bank)
have entered into a cash deposit and escrow agreement; and
WHEREAS, under the terms of said agreement, the Developer
has made a written request for a partial disbursement of funds
held to guarantee required improvements, and for retention of
remaining funds to secure construction of a dune walkover and
site clean-up; and
WHEREAS, under the terms of said agreement, the Public
Works Director has caused an inspection of the required
improvements, is satisfied with the work performed, and
recommends disbursement of a certain portion of the funds held
in escrow by the Bank.
Now, therefore, be it resolved by the Board of County
Commissioners of Indian River County, Florida that:
The Bank is hereby authorized to disburse funds from the
escrow account in the amount of $12,098.08 to the Developer
or any third party or parties upon which the Bank and
Developer agree. Funds on the amount of $9,890.00 shall
remain in the escrow account to secure construction of a
dune walkover and site clean-up, under the same terms as
the existing agreement.
Aird The foregoing resolution was offered by Commissioner
who moved its adoption. The
motion was seconded by Commissioner Rowman r
and upon being put to a vote, the vote was as follows:
Chairman Patrick B. Lyons AbSOP1
Vice -Chairman Don C. Scurlock, Jr. Aye
Commissioner Richard N. Bird Avc
Commissioner Margaret C. Bowman �•�'
Commissioner William C. Wodtke, Jr.
The Chairman thefftyon declared the resolution duly passed an
adopted this day of
1985
BOARD OF COUNTY COMMISSIONERS
OF INDIAN RIVER COUNTY, FLORIDA
BY:
M)N?; ,
VTC1 CTIATPr4A r
Attest;
SFR A WRIGHT, Cler
STATE OF FLORIDA
COUNTY OF INDIAN RIVER
of
•
RESOLUTION 85- 82
I HEREBY CERTIFY that on this day, before me, an officer duly
®
authorized in this State and County to take acknowledgements, Vice
personally appeared PON Cr;SCURLOCK, JR;-:' and FREDA WRIGHT, as
Chairman of the Boaru oY County Commissioners and Clerk,
respectively, to me known to be the persons described in and who
executed the foregoing instrument and they acknowledged before
me that they executed the same.
WITNESS my hand and (ficial seal in the oand State last
• • aforesaid this day of unty A.D.,
1985.
Not y Public - ?- -
O411AY FU11E6 STATE av noa1CA ;
APPROVED AS TO FORM AND LEGALA
KY gp"146101 W. Aug 13,19o8
SUFFICIENCY OMD t Atl GEOUAL IN. 0 D.. ..
BY: (nt!>>
CITARLES P. VITUNAC
County Attorney