HomeMy Public PortalAbout1990_09_12_R235PRESENTED September 12, 1990
RESOLUTION NO. 90- 235
ADOPTED September 12, 1990
A RESOLUTION:
AUTHORIZING AN AGREEMENT, APPROVING A PERFORMANCE
GUARANTEE AND WATER AND SEWER EXTENSION PERMITS AND
CORRECTING THE PERFORMANCE GUARANTEE AMOUNT FOR EXETER
SECTION 9
WHEREAS, a letter of credit from First American Bank in the amount of $1,566,803.00 has been
provided by the developer and approved by the Town Attorney to guarantee instsllstion of public
improvements in Exeter Section 9; and
WHEREAS, Resolution No. 90-157 adopted June 27, 1990, which approved the letter of credit,
incorrectly listed the letter of credit amount.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
SECTION I. The manager shall execute the contract for public improvements for the
improvements shown on the plans approved by the Director of Engineering and Public Works for
Exeter Section 9.
SECTION H. The extension of municipal water and sewer for Exeter Section 9 is approved in
accordance with Sections 15-9 and 19-18 of the Town Code.
SECTION IH. The irrevocable bank letter of credit approved by the Town Attorney from First
American Bank in the amount of $1,566,803.00 is approved as security to guarantee inst~llstion of the
public improvements shown on plans approved by the Director of Engineering and Public Works for
Exeter Section 9.
SECTION IV.
PASSED this
Resolution No. 90-157 is hereby repealed.
12th
Clerk of Co~fcil'
day of September ,1990.
R~bert E. Sevila, Mayor
Town of Leesburg