HomeMy Public PortalAbout1990_06_13_R128RESOLUTION NO. 90-128
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 1H
WI-IE~, Richmond American, the developer of Potomac Crossing Section 1H has substantially
completed ail 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 1H of Potomac Crossing cannot be accepted by
the town until the public improvements in Section 1C of Potom~ Crossing are completed and
accepted; and
WHEREAS, the corporate surety bond from Reliance Insurance Company, which guarantees the
installation of public improvements in Potomac Crossing Section 1H, in the amount of $54,000.00
expired on May 30, 1990; and
WHEREAS, a new corporate surety bond from Reliance Insurance Company in the amount of
$54,000.00 has been provided by the developer to guarantee inst~llation of the remaining public
improvements for Potomac Crossing Section IH; and
WHEREAS, the Director of Engineering and Public Works has approved the amount of $54,000.00
to guarantee inst~llation of the remalrdng public improvements of Potomac Crossing Section 1H.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Vir~nia as follows:
SECTION I. The corporate surety bond from Reliance Insurance Company in the amount of
$54,000.00 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 IH are hereby approved.
PASSED this 13th day of June ,
~lerk of ~ou~cil J I ~
Robert E. Sevila, Mayor
Town of Leesburg