HomeMy Public PortalAbout1984_09_12_R155The Town of Leesburg in Virginia
PRESENTED September 12, 1984
AMENDED ~eptember AZ~ 1~84
RESOLUTION NO. 84-155 ADOPTED September 12~ 1984
A RESOLUTION: AUTHORIZING ESCROW AGREEMENT BETWEEN TOWN OF LEESBURG AND WELLESLEY TRUST
WHEREAS, the Wellesley Trust desires to sell 106 recorded building lots in
Section IV, Leesburg Country Club; and
WHEREAS, the Council for the Town of Leesburg seeks to ensure and enhance
the availability of nonpublic funds to complete construction of the public improve-
ments in Phase I (Fairways) of Section IV, Leesburg Country Club; and
WHEREAS, the Wellesley Trust and the town have reached an agreement to create
a $35,000 escrow account from which the town may withdraw funds to make the neces-
sary improvements and repairs to the public facilities in the Fairways Subdivision
which is in addition to the corporate surety guarantee of the Republic Insurance
Company.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as
follows:
The mayor is authorized to execute an escrow agreement between the town and
the Wellesley Trust in a form approved by the town attorney.
PASSED this 12th day of
ATTEST:
Cie k of Co~cil
September , 1984.
Robert E. S~v~la, Mayor
Town of Leesburg