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eesourg in ~Virginia
RESOLUTION NO. 90-210
PRESENTED August 8, 1990
ADOPTED August 8, 1990
A RESOLUTION: MAKING A REDUCTION OF THE PERFORMANCE GUARANTEE FOR PUBLIC
IMPROVEMENTS INSTALL&TION FOR TAVISTOCK FARMS OFFSITE
SANITARY SEWER
WHE~, the town's Director of Engineering and Public Works has reviewed the public
improvements installed to date for Tavistoek Farms Offsite Sanitary Sewer and certified that the value
of work performed exceeds $125,124.00; and
WHEREAS, an irrevocable letter of credit from Perpetual Savings Bank in the amount of
$156,405.00 has been provided by the developer and approved by Council to guarantee inst~llstion
of public improvements for Tavistock Farms Offsite Sanitary Sewer.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
SECTION I. The irrevocable letter of credit from Perpetual Savings Bank in the amount of
$156,405.00 is reduced to $31,281.00.
SECTION H. The Town Manager shall notify the developer that liability for the letter of credit
has been reduced as outlined in Section I of this resolution, and that this reduction does not constitute
acceptance of public improvements by the town or relieve the developer of responsibilities outlined in
the contract for public improvements for Tavistock Farms Offsite Sanitary Sewer.
PASSED this 8th
ATTEST:
tavistock, oss
day of August ,1990.
Robert E. Sevila, Mayor
Town of Leesburg