HomeMy Public PortalAbout1985_12_11_R223 The Town ofLeesburginVirginia PRESENTED December 11, 1985
RESOLUTION NO. 85-223 ADOPTED December 11, 1985
A RESOLUTION: ACCEPTING PUBLIC IMPROVEMENTS, RELEASING THE PERFORMANCE
GUARANTEE AND APPROVING A MAINTENANCE BOND FOR SILVER OAKS
SUBDIVISION
WHEREAS, the developer of the Silver Oaks Subdivision has completed
public improvements in accordance with town standards and specifications
and these have been inspected and approved and the as-built drawings have
been submitted and approved:
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia
as follows:
SECTION I. The irrevocable letter of credit in the amount of $224,339
from Equitable Federal Savings and Loan Association is reduced by $213,123.
A maintenance bond to be in effect for a period of one year from this date
in the amount of $11,216 is approved.
SECTION II. This release is contingent upon delivery of a properly
executed instrument conveying unto the town all such improvements free of
any liens or charges.
PASSED this llth
day of
ATTEST:
December , 1985.
Town of Leesburg