HomeMy Public PortalAbout1990_03_13_R049in ~rir~inia
RESOLUTION NO.
A RESOLUTION:
PRESENTED March 13, 1990
90-49 ADOPTED March 13, 1990
ACCEPTING PUBLIC IMPROVEMENTS, RET,EASING THE PERFORMANCE
GUARANTEE AND APPROVING A MAINTENANCE GUARANTEE FOR
PUBLIC IMPROVEMENTS AT LEESBURG GATEWAY PHASE liB, LOTS 6A,
6BAND 7
WFHE~, the Sycolin Partnership, the developer of Leesburg Gateway Phase HB, Lots 6A, 6B
and 7 has completed the public improvements in accord,rice 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 from First American Bank in the amount of
$250,000.00 is released, and a new surety in a form approved by the town attorney for a maintenance
guarantee in the amount of $12,500.00 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 charges.
PASSED this 13th day of March ,1990.
ATTEST:
Clerk of Co~cil
Robert E. Sevila, Mayor
Town of Leesburg