HomeMy Public PortalAbout1990_12_12_R320L ,~£
eesour~ in ~rirginia
RESOLUTION NO. 9 0- 3 2 0
A RESOLUTION:
PRESENTED December 12, 1990
ADOPTED December 12, 1990
REI,EASING THE PERFORMANCE GUARANTEE FOR THE PHASE I SPECIAL
AGREEMENT FOR STAR PONTIAC VEHICLE STORAGE FACILITY
WHEREAS, the Council by Resolution #89-231 authorized an agreement and performance
guarantee in the amount of $80,250.00 for the public improvements associated with the development plan
for the Star Pontiac Vehicle Storage Facility; and
WHEREAS, the owner desired to phase the improvements, rather than bear the total cost for all
the required work at one time; and
WHEREAS, on July 25, 1990 the Council by Resolution #90-193 authorized a special agreement
and approved a substitute performance guarantee for Phase I of the Star Pontiac Vehicle Storage Facility;
and
WHEREAS, the owner provided a letter of credit from Farmers and Merchants National Bank in
the amount of $21,000 for Phase ! to guarantee the installation of the landscaping, fence and swale as
shown on the plans approved by the Director of Engineering and Public Works for the Star Pontiac
Vehicle Storage Facility; and
WHEREAS, the length of the Phase I performance guarantee is six months at which time all work
would be completed; and
WHEREAS, pursuant to Council Resolution #90-193 adopted July 25, 1990 the owner is required
to enter into an agreement to complete all public improvements and provide the $80,250.00 performance
guarantee approved by Resolution #89-231 on or before January 25, 1991, or remove all vehicles from
the gravel vehicle storage facility; and
WHEREAS, the installation of the landscaping, fence and swale have been completed and approved.
-2-
RELEASING THE PERFORMANCE GUARANTEE FOR THE PHASE I SPECIAL AGREEMENT
FOR STAR PONTIAC VEHICLE STORAGE FACILITY
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
The letter of credit from First American Bank in the amount of $21,000.00 which guarantees the
installation of the landscaping, swale and fence in Phase I of the Star Pontiac Vehicle Storage Facility
is released.
PASSED this 12th day of December 9990.
ATTEST:
Clerk of Cou~il'
strponlI.res
Robert E. Sevila, Mayor
Town of Leesburg