HomeMy Public PortalAbout1990_08_08_R199Lee$1Ju£g in %rl'rginia PRESENTED August ~, 1990
RESOLUTION NO. 90-199 ADOPTED Au gu s t 8, 1990
A RESOLUTION: AUTHORIZING A TII~[E EXTENSION FOR TIlE INSTAI.I.~,TION OF PUBLIC
IMPROVEMENTS AND APPROVING A PERFORMANCE GUARANTEE 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 1C of Potomac Crossing are completed and
accepted; and
WHEREAS, the corporate surety bond from Reliance Insurance Company, which guarantees the
inst~llstion of public improvements in Potomac Crossing Section 1D, in the amount of $54,055.00
expired on August 8, 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 instsllstion of the remsining public
improvements for Potomac Crossing Section 1D; and
WHEREAS, the Director of Engineering and Public Works has approved the amount of $54,055.00
to guarantee inst~llstion of the remslning public improvements in Potomac Crossing Section ID.
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 $54,055.00 in a
form approved by the Town Attorney and a time extension to October 1, 1990 for the inst~llstion of
public improvements in Potomac Crossing Section 1D are hereby approved.
PASSED this 8th day of
ATTEST:
Clerk of Cot~ql
990.
Robert E. Sevila, Mayor
Town of Leesburg