HomeMy Public PortalAbout1988_07_12_R131 PRESENTED July 12~ 1988
RESOLUTION NO. 88-131 ADOPTED July 13, 1988
A RESOLUTION: ACCEPTING PUBLIC IMPROVEMENTS, RELEASING THE PERFORMANCE BOND AND APPROVING A MAINTENANCE BOND FOR PUBLIC IMPROVEMENTS FOR
THE CHESTERFIELD DEVELOPMENT
WHEREAS, Fort Beauregard Associates Incorporated, the developer' of
Chesterfield has completed the public improvements in accordance with
approved plans and town standards, 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 bank letter of credit from Equitable Federal
Savings Bank in the amount of $81,752.00 is release~and a new bond for
maintenance purposes in a form approved by the town attorney in the amount
of $4,088.00 is approved, and shall be in effect for a period of one year
from the date.
SECTION II. This release is contingent upon delivery of a properly
executed instrument conveying unto the town all such improvements and
July
easements free of any liens or charges.
PASSED this 12th day of
ATTEST:
, 1988.
Robert E. Sevi~a, Mayor
Town of Leesburg