HomeMy Public PortalAbout1985_11_13_R200The Town of Leesburg in Virginia
RESOLUTION NO. 85-200
PRESENTED November 13~ 1985
ADOPTED November 13, 1985
A RESOLUTION: RELEASING A LETTER OF CREDIT FOR THE MARKET STATION DEVELOPMENT
WHEREAS, Market Square Associates delivered a letter of credit from
First American Bank in the amount of $250,000 to guarantee the successful
completion cf Market Station as required by the Lease and Development contract
executed by Town Council and Market Square Associates; and
WHEREAS, the Market Station development is virtually complete; and
WHEREAS, the issuance of an occupancy permit by the Loudoun County
Department of Technical Services will insure that the development meets all
building code requirements.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia
as follows:
The Town Manager is directed to release the $250,000 letter of credit
from First American Bank upon issuance of m occupancy per,~it from the Loudoun
County Department of Technical Services.
PASSED this 13th day of November , 1985.
Town of Leesburg
ATTEST:
Cle~'~ of Co, il