HomeMy Public PortalAbout1990_12_12_R325egsDu£g
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RESOLUTION NO.
A R~SOLUTION:
PRESENTED December 12, 1990
90-325 ADOPTED December 12, 1990
RELEASING THE PERFORMANCE GUARANTEE AND ACCEPTING STORM
DRAINAGE IMPROVEMENTS ALONG THE PEDESTRIAN AND BIKE TRAIL
IN POTOMAC CROSSING SECTION 1G
WHEREAS, on October 24, 1990 the Council by Resolution No. #90-270 accepted the public
improvements, except for the storm drainage improvements along the pedestrian and bike trail, released
the performance guarantee for public improvements and accepted a maintenance guarantee at Potom~e
Crossing Section 1G; and
WI-IEREAS, Potomac Crossing Corporation provided a letter of credit from United Federal Savings
Bank in the amount of $10,000.00 to guarantee completion of the storm drainage improvements along
the pedestrian and bike trail in Section 1G; and
WHEREAS, the maintenance guarantee amount for these improvements is already included in the
mslntenance guarantee for Section 1G.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
SECTION I. The irrevocable letter from United Federal Savings Bank in the amount orS10,000.00
which guarantees the inst~llstion of the storm drainage improvements along the bike and pedestrian trail
in Potomac Crossing Section 1G is hereby released.
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 and charges.
PASSED this 12th day of December ,1990.
ATTEST:
~rk of Co{m~d~
Robert E. Sevila, Mayor
Town of Leesburg