HomeMy Public PortalAbout1984_06_13_R086The Town of Leesburg in Virginia
RESOLUTION NO.
A RESOLUTION:
PRESENTED June 13, 1984
84-86 ADOPTED June 13, 1984
ACCEPTING ESCROW FUNDS FOR FUTURE STORM DRAINAGE IMPROVEMENTS
TO NORTH STREET
WHEREAS, the Planning Commission of February 2, 1984 granted preliminary
approval of the development plan for the North Street Parking lot at the
southwest corner of North King Street and North Street; and
WHEREAS, off-site storm drainage improvements are required in addition
to those outlined in the town's adopted Storm Drainage Master Plan; and
WHEREAS, the Planning Commission requested, and the developer concurred
that a deposit be made with the Town of Leesburg in the sum of $1,588.00 as
determined by the Director of Engineering as their pro rata share of storm
drainage improvements which will be required in the future on North Street; and
WHEREAS, the Town of Leesburg agrees to accept these funds plus interest
earned while on deposit, to pay its town costs for storm drainage improvements
to North Street commenced by the town within ten years from receipt of the
deposit or will return the funds or remaining Unexpended balance plus interest
earned:
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as
follows:
SECTION I. A deposit by the developer of the North 'Street parking lot in
the amount of $1,588.00 is set out above and the Director of Finance shall
deposit these funds in an interest bearing escrow account. In the event of
appropriations for this purpose, the funds shall be used to pay for the costs
of studies, engineering or construction of improvements to the storm drainage
system on North Street.
Accepting Escrow Funds for Future Storm Drainage Improvements to North Street
Page 2
SECTION II.
February 22, 1984 is repealed.
PASSED this 13th
ATTEST:
Clerk of Co~cil
Section III of Resolution No. 84-26 adopted by Council
day of
June , 1984.
Robert E. Sev~la, Mayor
Town of Leesburg