HomeMy Public PortalAbout1979_01_24_R010 TOWN OF LEESBURG
IN
LOUDOUN COUNTY, VIRGINIA
PRESENTED January 24, 1979
RESOLUTION NO. 79-10 ADOPTED January 24, 1979
A RESOLUTION: AUTHORIZING SUBSTITUTION OF A PERFORMANCE BOND FOR A
CASH BOND FOR PUBLIC IMPROVEMENTS FOR MADISON HOUSE.
WHEREAS, CRI, INC., developers of Madison House on Monroe Street
in Leesburg, have requested that a performance bond in the amount of
$19,420 be substituted for the cash bond in that same amount now on
deposit with the town to guarantee installation of public improvements
at Madison House; and
WHEREAS, this performance bond has been received, therefore;
RESOLVED by the Council of the Town of Leesburg, Virginia, as
follows:
SECTION I. Performance Bond No. 9281309 of the Fidelity and
Deposit Company of Maryland in the amount of $19,420 to guarantee
installation of public improvements at Madison House on Monroe Street
in Leesburg is approved subject to review and approval by the town
attorney.
SECTION II. Upon final approval of the above-mentioned surety
bond, the manager is authorized and directed to release the cash per-
formance bond in the amount of $19,420 plus interest earned which was
approved by Council on May 24, 1978, for the guarantee of installation
of public improvements for Madison House.
PASSED this 24th day of January , 1979.
ATTEST:
Clork of
Town of Leesburg