HomeMy Public PortalAbout1990_03_13_R050PRESENTED
ADOPTED
March 13, 1990
March 13, 1990
RESOLUTION NO.90- 50
A RESOLUTION: ACCEPTING PUBLIC IMPROVEMENTS, RELEASING THE PERFORMANCE
GUARANTEE AND APPROVING A MAINTENANCE GUARANTEE FOR
PUBLIC IMPROVEMENTS AT LEESBURG GATEWAY LOT 9
WHEREAS, the Sycolin Partnership, the developer of Leesburg Gateway Lot 9 has completed
the public improvements in accordance with approved plans and town standards, and these have been
inspected and approvech
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
$42,085.00 is released, and a new surety in a fora approved by the town attorney for a maintenance
guarantee in the amount of $2,104.25 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 13 th day of Mar ch ., 1990.
ATTEST:
Clerk of Co~cll
Robert E. Sevila, Mayor
Town of Leesburg