HomeMy Public PortalAbout1990_10_10_R258eesourg in c-Virginia
PRESENTED October 10, 1990
ADOPTED October 10, 1990
RESOLUTION NO. 90-258
A RESOLUTION: AUTHORIZING A TIME EXTENSION FOR INSTAI,I,&TION OF PUBLIC
IMPROVEMENTS AND APPROVING A PERFORMANCE GUARANTEE FOR
TAVISTOCK FARMS SECTION 1
WHEREAS, the Tavistock Farms General Partnership, the developers of Tavistock Farms Section
1, has not 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 developer has requested a one-year time extension to complete the public
improvements; and
WHEREAS, the letter of credit from Perpetual Savings Bank dated September 27, 1988, which
guarantees the installation of public improvements in Tavistock Farms Section 1, in the amount of
$180,000.00 automatically renews for additional one-year periods; and
WHEREAS, the Director of Engineering and Public Works has approved the amount of
$180,000.00 to guarantee installation of the remairdng public improvements in Tavistock Farms Section
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
Renewal of the letter of credit from Perpetual Savings Bank in the amount of $180,000.00 in a
form approved by the Town Attorney and a time extension of one-year for the inst~l!~tion of public
improvements are hereby approved for Tavistock Farms Section 1.
PASSED this 10th day of /I October ,1990.
Rober~ E. Sevilth Mayor
Town of Leesbm'g
ATT$.ST:
Clerk of Co~l