HomeMy Public PortalAbout1991_03_12_R059 The Town of
Leesburg,
]Virg' '
lnla
PRESENTED March 1 2, 1991
RESOLUTION NO. 91- 59
ADOPTED March 12, 1991
A RESOLUTION:
AUTHORIZING A TIME EXTENSION FOR INSTALLATION OF PUBLIC
IMPROVEMENTS AND APPROVING A PERFORMANCE GUARANTEE FOR
FOX CHASE SECTION I
WHEREAS, the Pulte Home Corporation, the developer of Fox Chase Section I, 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 Sovran Bank, N.A., which guarantees the installation of
public improvements in Fox Chase Section I, in the amount of $62,000.00 automatically renews for
additional one-year periods; and
WHEREAS, the Director of Engineering and Public Works has approved the amount of $62,000.00
to guarantee installation of the remaining public improvements in Fox Chase Section I.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
Renewal of the letter of credit from Sovran Bank, N.A. in the amount of $62,000.00 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 Fox Chase Section I.
PASSED this 12th day of March , 1991.
ATTEST:
Clerk of Co~eil
foxchase.1
Rbbert E. Sevila, l~Iayor
Town of Leesburg