HomeMy Public PortalAbout1990_04_24_R079RESOLUTION NO. 90-79
A RESOLUTION:
PRESENTED April 24, 1990
ADOPTED April 24. 1990
AUTHORIZRNG A TIME EXTENSION OF THE PERFORMANCE GUARANTEE
AND THE INSTALLATION OF PUBLIC IMPROVEMENTS FOR POTOMAC
CROSSING SECTION lB2
WHEREAS, Richmond American, the developers of Potomac Crossing Section lB2 have not
completed all the required public improvements in accordance with the approved construction drawings
and town standards within the two year period agreed to in the contract for public improvements; and
WHEREAS, all the housing units in the subdivision have not been sold by the builder; and
WHEREAS, the corporate surety bond from Reliance Insurance Company, which guarantees the
installation of public improvements, in the amount of $79,000.00 expired on April 8, 1990; and
WHEREAS, Richmond American has requested a one year time extension and provided a new
corporate surety bond from Reliance Insurance Company in the amount of $79,000.00 to guarantee
installation of the remaining public improvements for Potomac Crossing Section lB2; and
WHEREAS, the Director of Engineering and Public Works has approved the amount of $79,000.00
to guarantee installation of the remaining public improvements:
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
The corporate surety bond from Reliance Insurance Company in the amount of $79,000.00 in a
form approved by the Town Attorney and an extension of 4 months for the installation of public
improvements in Potomac Crossing Section 1B2 are hereby approved.
PASSED this 24th day of April
ATTEST:
1990.
Robert E. Sevila, Mayor
Town of Leesburg