HomeMy Public PortalAbout1991_02_26_R043The Town of
Leesburg,
Virginia
RESOLUTION NO. 91-43
A RESOLUTION: AUTHORIZING A TIME EXTENSION
IMPROVEMENTS AND APPROVING A PERFORMANCE GUARANTEE FOR
TAVISTOCK FARMS SECTION 5
WHEREAS, the Tavistock Farms General Partnership, the developers of Tavistock Farms Section
5, has 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 Perpetual Savings Bank, which guarantees the installation
of public improvements in Tavistock Farms Section 5, in the amount of $117,498.00 automatically
renews for additional one-year periods; and
WHEREAS, the Director of Engineering and Public Works has approved the amount of
$117,498.00 to guarantee installation of the remaining public improvements in Tavistock Farms Section
PRESENTED February 26, 1991
ADOPTED February 26: 1991
FOR INSTALLATION OF PUBLIC
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 $117,498.00 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 5.
PASSED this 26th day of February , 1991.
C i e=Y,' Vi ce-Mayor
Town of Leesburg
ATTEST:
7 ~ ' '1~7
Clerk of Co~ltcil
tavistock.5