HomeMy Public PortalAbout1990_06_13_R125Leest~urg in cVirginia
RESOLUTION NO. 90-125
PRESENTED June 13, 1990
ADOPTED June 13, 1990
A RESOLUTION: AUTHORIZING A TIME EXTENSION OF THE PERFORMANCE GUARANTEE
FOR INSTALLATION OF PUBLIC IMPROVEMENTS FOR POTOMAC
CROSSING SECTION 1D
WHEREAS, Richmond American, the developer of Potomac Crossing Section 1D has substantially
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, the public improvements in Section 1D of Potomac Crossing cannot be accepted by
the town until the public improvements in Section lC of Potomac Crossing are completed and
accepted; and
WHEREAS, the corporate surety bond from Reliance Insurance Company, which guarantees the
instmll-tion of public improvements in Potomac Crossing Section 1D, in the amount of $54,055.00
expired on May 30, 1990; and
WHEREAS, a new corporate surety bond from Reliance Insurance Company in the amount of
$54,055.00 has been provided by the developer to guarantee inst~ll-tion of the remsining public
improvements for Potom-c Crossing Section 1D; and
WHEREAS, the Director of Engineering and Public Works has approved the amount of $54,055.00
to guarantee instsll-tion of the remsining public improvements in Potomac Crossing Section 1D.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
SECTION I. The corporate surety bond from Reliance Insurance Company in the amount of
$54,055.00 in a form approved by the Town Attorney and a time extension to September 1, 1990 for
the installation of public improvements in Potomac Crossing Section 1D are hereby approved.
PASSED this 13th day of June
Robert E. Sevila, Mayor
Town of Leesburg