HomeMy Public PortalAbout1990_10_24_R267RESOLUTION NO.
A RESOLUTION:
PRESENTED October 24, 1990
90-267 ADOPTED October 24, 1990
ACCEPTING PUBLIC IMPROVEMENTS, llMI,EASING THE PERFORMANCE
GUARANTEE AND APPROVING A MAINTENANCE GUARANTEE FOR
PUBLIC IMPROVEMENTS AT POTOMAC CROSSING SECTION lA
WHEREAS, the Potomac Crossing Corporation, the developer of Potomac Crossing Section lA, has
completed the public improvements in accordance with approved plans and town standards, and these
have been inspected and approved.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
SECTION I. The irrevocable letter of credit from United Federal Savings Bank in the amount
of $32,125.00 is released, and a new letter of credit from United Federal Savings Bank in a form
approved by the town attorney for a maintenance guarantee in the amount of $1,606.00 is approved,
and shall be in effect for a period of one year from this date.
SECTION II. This release is contingent upon delivery of a properly executed instrument
conveying unto the town all such improvements and easements free of any liens or charges.
PASSED this 24th day of October ,1990.
ATTEST:
potcros, la
Robert E Sevil~, IM_~yo~
Town of Leesburg