HomeMy Public PortalAbout1988_10_11_R192LeesB~r~ in ~ir~inia
PRESENTED October 11. 1988
RESOLUTION NO. 88-192 ADOPTED Octnber 11: 1988
A RESOLUTION: ACCEPTING PUBLIC IMPROVEMENTS, RRT.RASING THE PERFORMANCE BOND
AND APPROVING A MAINTENANCE BOND FOR PUBLIC IMPROVEMenTS,
IN VIRGINIA VITJ.AGE, PARCEL D, SECTION I.
WHEREAS, Ours Land Trust, the developer of Virginia Village Parcel D
Section I has completed public improvements in accordance with approved
plans and town 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 No. L/C C-165 from
Continental Federal Savings Bank in the amount of $238,997.50 is released,
and a new corporate surety bond for maintenance guarantee in the amount of
$11,920.00 from Hartford Fire Insurance Company 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 improvements and
easements free of any liens or changes.
PASSED this llth day of
ATTEST:
Clerk of,~ouncil
October
, 1988.
Robert E. ~e~ila, Mayor
Town of Leesburg