HomeMy Public PortalAbout1989_01_10_R007 PltF~~~ 1989
RF~OLUTIONNO. ~9-7 ADOI~I~J) January 10~ 1989
A RF~OLUTION: MAKING A RRDU~ON IN TH~ PERFORMANC~ GUABANT~. FOB
PUBLIC IMPROVEMENTS INSTALr.&TION IN POTOMAC CROSSING
SECTION 1D
WHERF. u~, the Town's Director of Engineering and Public Works has reviewed the public
improvements installed to date in Potomac Crossing Section ID and certified that the value of work
performed is $140,945.00; and
WHEREAS, a corporate surety bond from Reliance Insurance Company in the amount of
$195,000.00 has been provided by the developer and approved by Council to guarantee installation of
public improvements for Potomac Cresting Section ID.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in W~rginia as follows:
SECTION I. The corporate surety bond from Reliance ~ Company in the amount of
$195,000.00 is reduced to $54,055.00.
SECTION IL The Town MAr~er shall notify the developer that liability for the corporate
surety bond has been reduced as outlined in Section I of this resolution, and that this reduction does
not constitute acceptance of public improvements by the Town or relieve the developer of responsibilities
outlined in the contract for public improvements for Potomac Crossing Section ID.
PASSED this 10th day of January
ATYEST:
Clerk of
,1989.
Robert E. Sevila, Mayor
Town of Leesburg