HomeMy WebLinkAbout1985-129RESOLUTION 85-129
RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF INDIAN RIVER
COUNTY, FLORIDA AUTHORIZING THE RELEASE OF A PORTION OF THE
REMAINING FUNDS HELD UNDER THE TERMS OF AN ESCROW AGREEMENT
BETWEEN SALAMA DEVELOPMENT CORPORATION, UNITED SAVINGS OF
AMERICA, AND INDIAN RIVER COUNTY.
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 the completion of the dune walkover;
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 $9,016.00 to the Developer
or any third party or parties upon which the Bank and
Developer agree. Funds in the amount of $874.00 shall
remain in the escrow account to secure completion of the
dune walkover and site clean-up, under the same terms as
the existing agreement.
The foregoing resolution was offered by Commissioner
Scurlock who moved its adoption. The
motion was seconded by Commissioner Bowman , 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. Absent
The Chairman thereupon declared the resolution duly passed and
adopted this 6th day of November _
1985.
BOARD OF COUNTY COMMISSIONERS
OF INDIAN RIVER COUNTY, FLORIDA
BY:C
DaN C. SCURLOCk , ;J
VICE CHAIRMAN .
ATTEST:
BY:
FREDWRIGHT- ', CLE
RESOLUTION 85-129
I HEREBY CERTIFY that on this day, before me, an officer duly
authorized in this State and County to take acknowledgements,
personally appeared D ON C. SC URLOCK JR. and FREDA WRIGHT, as
Chairman of the Board of County Commissioners and Clerk,
respectively, to me known to be the persons described in and
i who executed the foregoing instrument and they acknowledged
before me that they executed the same.
WITNESS my hand and official seal in the C unty nd State last
aforesaid this �`-at day of A.D.,
1985. jo
APPROVED AS TO FORM AND LEGAL
SUFFIC NC�Y )� j
BY'e'-J�
CHARLES P. VITUNAC
County Attorney
Notary lic
NOTARY PUBLIC STATE OF FLORIDW
BONDED THRU GENERAL 4SUKANCE UNA,
MY COMMISSION EXPIRES J�1LY 8 1986