HomeMy Public PortalAbout1988_07_26_R143PRESENTED July 26, 1988
ADOPTED July 26, 1988
easements free of any liens or changes.
PASSED this 26th day of
ATTEST:
uncil
July
J , 1988.
Robert E. Sevila, Mayor
Town of Leesburg
RESOI~TION NO. 88-143
A F~SOLUTION: ACCEPTING PUBLIC IMPROVEMENTS, RELEASING THE PERFORMANCE
GUkRANTEE AND APPROVING A MAINTENANCE GUARANTEE FOR FUBLIC
IMPROVEMENTS, PHASE IIA OF I,R~SBURG GATEWAY SUBDIVISION
WHEREAS, Sycolin Partnership, the developer of Leesburg Gateway
Subdivision Phase IL~ has completed public improvements in accordance with
approved ~l.a~s and to~n standards, and these have been inspected and
approved.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia
as follows:
SECTION I. The irrevocable letter of credit from First American Bank in
the amount of $76,121.00 is released, and a new performance guarantee for
maintenance in the amount of $16,000.00 in a form approved by the town
attorney is approved, and shall be in effect for a period of one year from
this date.
SECTION II. This release is contingent upon delivery of a properly
executed instrument conveying unto the town all such ix~rovements and