HomeMy Public PortalAbout1984_10_24_R197The Town of Leesburg in Virginia
RESOLUTION NO.
A RESOLUTION:
PRESENTED October 24~ 1984
84-197
ADOPTED October 24~ 1984
AUTHORZING AN AGREEMENT BETWEEN THE TOWN OF LEESBURG AND THE
REPUBLIC INSURANCE COMPANY REGARDING PHASE 1 OF COUNTRY CLUB
SECTION IV (FAIRWAYS)
WHEREAS, the Town of Leesburg has been informed by the Bexley-Green Corpora-
tion, the developers of Country Club Section IV, Phase 1, that sufficient funds
are not available to complete the bonded public improvements within this sub-
division; and
WHEREAS, the Republic Insurance Corporation through its corporate surety
bonds Nos. 913168, 913169 and 913170 are the guarantors for the installation of
public facilities within Leesburg Country Club, Section IV; and
WHEREAS, the contract for public improvements executed with the Bexley-Green
Corporation does not expire until May 25, 1985; and
WHEREAS, this Council desires to expedite completion of these improvements
prior to that date so that residents of the Fairways Subdivision may be relieved
of the inconveniences associated with the incomplete improvements as soon as
possible; and
WHEREAS, adequate guarantee exists for the completion of the remaining im-
provements in Phases 2, 3 and 4 under contract with the Yeonas Corporation; and
WHEREAS, the Republic Insurance Corporation has tendered an agreement where-
by the Republic Insurance Corporation shall reimburse the town for all labor and
materials required to fully complete all remaining improvements in Phase 1 up to
$85,674.10, the current estimate of the value of the remaining public improvements.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as
follows:
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AUTHORIZING AN AGREEMENT BETWEEN THE TOWN OF LEESBURG AND THE REPUBLIC IN-
SURANCE COMPANY REGARDING PHASE 1
The manager is authorized and directed to execute an agreement with the
Republic Insurance Company in a form approved by the town attorney which will
provide for prompt reimbursement to the town for work done to complete all
outstanding public improvements in Phase 1 of Country Club, Section IV up to
$85,674.10.
PASSED this
24th day of October
, 1984.
Robert E. Sevil~
Town of Leesburg
ATTEST ..
Clerk of C~cil