HomeMy Public PortalAbout1980_04_23_R050 TOWN OF LEESBURG
IN
LOUDOUN COUNTY, VIRGINIA
RESOLUTION NO. 80-50 PRESENTED April 23, 1980
ADOPTED April 23, 1980
A RESOLUTION: PARTIAL RELEASE OF PERFORMANCE BOND FOR SECTION II
OF LOUDOUN HILLS SUBDIVISION
WHEREAS, Green Acres Associates, a limited partnership, developers
of Section II of Loudoun Hills Subdivision have requested a partial
release of the $165,000 Performance Bond for public improvements for
that subdivision; and
WHEREAS, Bond 9910519 in the amount of $165,000 from Republic
Insurance Company had been approved to guarantee the installation of
those public improvements; and
WHEREAS, The public improvements have been completed in accordance
with town standards except for items approximating $30,000 in value; and
WHEREAS, Green Acres Associates understands that this partial
release is not an indication that the public facilities are ~cepted for
maintenance and that they are solely responsible for the condition of
those improvements until such time as they are accepted.
THEREFORE, RESOLVED by the Council of the Town of Leesburg,
Virginia, as follows:
Performance Bond 9910519 in the amount of $165,000 is reduced to
$30,000 conditioned upon review and approval by the Town Attorney of
the consent form from Republic Insurance Company.
PASSED this 23rd day of April , 1980.
Kenneth B. Rollins, Mayor
Town of Leesburg
ATTEST:
Clerk of Co~cil