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RESOLUTION 85-88
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
BEINDORF AND ASSOCIATES, INC., THE FIRST BANKERS OF INDIAN RIVER
REQUIREDD INDIAN IMPROVEMENTS IN GUNTY TO OLD SUGAR MILL THE STATES CONSTRUCTION
TIUNITTHREE
SUBDIVISION.
WHEREAS, Indian River County (County), Beindorf and
• Associates, Inc. (developer), and THE FIRST BANKERS of Indian
River County (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 disbursement of funds held to
guarantee required improvements, and has submitted an engineer's
certification that all required improvements have been
constructed and are complete; and
WHEREAS, under the terms of said agreement, the Public
Works Director has caused an inspection of the required
improvements and is satisfied that all required improvements
have been completed, and recommends a 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:
Funds from the escrow account in the amount of $90,000,00
be disbursed by Bank to Developer or to any third party or
parties upon which Bank and Developer may agree. Funds in
the amount of $25,000.00 shall remain in the escrow account
under the terms of the existing agreement and until a
maintenance bond is submitted pursuant to section 8(b) of
the subdivision and platting ordinance.
The foregoing resolution was offered by Commissioner
Scurlock who moved its adoption. The motion was
seconded by Commissioner Wndtke , and upon being
put to a vote, the vote was as follows:
Chairman Patrick B. Lyons Aye
Vice -Chairman Don C. Scurlock, Jr. Aye
Commissioner Richard N. Bird Aye
Commissioner Margaret C. Bowman Aye
Commissioner William C. Wodtke, Jr. Aye
The Chairman therimn declared the
resolution1985y passed
and adopted this 11 tt day ofSeptember
BOARD COUNTY COMMISSIONERS
OF I I RIVER COUNTY, FLORIDA
. ATRICK B. LYON
CHAIRMAN
I
Attest:_.
FREDA WRIGHT, Cl
S'I�ATE QF -FLORIDA ,e
COUNT$ OF INDIAN RIVER
RESOLUTION 85- 88
I HEREBY CERTIFY that on this day, before me, an officer y
authorized in this State and County to take acknow'edgem ts,
personally appeared PATRICK B. LYONS and FREDA WRIGH , as
Chairman of the Board of 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 officialsea in the County and State last
• , aforesaid this -"24& day of A.D., 1985.
APPROVED AS TO FORM AND LEGAL
�
BY: Vu
BY:
CHARLES P. VITUNAC-
County Attorney
otar' Public y
NOTARY PUBLIC STATE FLORIDA
BONDED THRU GENERAL INSURAWCE UNDt
MY COMMISSION EXPIRES JULY B 1986