HomeMy Public PortalAbout1990_10_10_R259Leesb~rg in ~Firginia
PRESENTED October 10, 1990
ADOPTED October 10, 1990
RESOLUTION NO. 9 0- 2 5 9
A RESOLUTION: AUTHORIZING A TIIV[E EXTENSION FOR INSTAIJ,&TION OF PUBLIC
IMPROVEMENTS AND APPROVING A PERFORMANCE GUARANTEE FOR
TAVISTOCK FARMS SECTION 7
WHEREAS, the Tavistock Farms General Partnership, the developers of Tavistock Farms Section
7, Ires 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
WHE~, 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 October 11, 1988, which
guarantees the inst~ll-tion of public improvements in Tavistock Farms Section 7, in the amount of
$400,000.00 automatically renews for additional one-year periods; and
WHEREAS, the Director of Engineering and Public Works Ires approved the amount of
$400,000.00 to guarantee inst~ll,tion of the remsining 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 $400,000.00 in a
form approved by the Town Attorney and a time extension of one-year for the installation of public
improvements are hereby approved for Tavistock Farms Section 7.
PASSED this lOth
ATTEST:
Clerk of Co//~cil
day of ~~, 1990.
Robert E. Sevila, Mayor
Town of Leesburg