HomeMy Public PortalAbout1991_01_08_R009LgcsSurg in ~Virginia
RESOLUTION NO. 91- 9
A RESOLUTION:
AUTHORIZING A TIME EXTENSION
IMPROVEMENTS AND APPROVING A PERFORMANCE GUARANTEE FOR
THE ROSEMEADE SUBDMSION
PRESENTED January 8, 1991
ADOPTED January 8, 199~.
FOR INSTAIJ~ATION OF PUBLIC
WHEREAS, Trammel Crow Residential, the developers of the Resemeade Subdivision, have 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 American Security Bank, which guarantees the installation
of public improvements in the Rosemeade Subdivision, in the amount of $121,823.00 automatically
renews for additional one-year periods; and
WHEREAS, the Director of Engineering and Public Works has approved the amount of
$121,823.00 to guarantee installation of the remaining public improvements in the Rosemeade
Subdivision.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
Renewal of the letter of credit from American Security Bank in the amount of $121,823.00 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 the Rosemeade Subdivision.
PASSED this ~ day of January , 1991.
Robert E Semla, Mayor
Town of Leesburg
ATTEST:
Clerk of Cou~il
rosemeade