The URL can be used to link to this page

Home My Public Portal About1991_04_09_R082Lees~urg in ~Virginia RESOLUTION NO. A RESOLUTION: PRESENTED April 9, 1991 91-82 ADOPTED April 9, 1991 DECLARING THE DEVELOPER OF THE SYCOLIN ROAD FRONTAGE IMPROVEMENTS AT THE WARD COMPONENT PLANT SITE IN DEFAULT OF ITS CONTRACT FOR INSTAIJJATION OF PUBLIC IMPROVEMENTS AND AUTHORIZING THE ACTING TOWN MANAGER TO PREPARE AND SIGN THE DOCUMENTS NECESSARY TO REQUEST PAYMENT OF THE PERFORMANCE GUARANTEE FUNDS WHEREAS, the Ward Corporation completed all the required frontage improvements along Sycolin Road in accordance with the approved construction drawings and town standards; and WHEREAS, these improvements were accepted by the Town Council by Resolution No. 91-8 adopted on January 8, 1991; however, the $1,740.10 maintenance guarantee has not been provided; and WIIEKEAS, the letter of credit from The Washington Bank provided by the Ward Corporation which guarantees the inst~ll~tion of the Sycolin Road Frontage Improvements at the Ward Component Plant site in the amount of $34,802.00 will expire on April 11, 1991, and WHEREAS, the town has received a notice of non-renewal of the letter of credit from The Washington Bank; and WHEREAS, the Ward Corporation has stated in writing to the town that it cannet obtain either a renewal of' the letter of credit in the amount of $1,740.10 or a substitute performance guarantee in the same amount from another institution; and WHEREAS, in order to guarantee that the town will have sufficient funds to repair any defects which might occur during the one-year maintenance period, a claim for payment of the letter of credit funds must be made. THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows: SECTION I. The Acting Town Manager is hereby authorized to dee_lsre the Ward Corporation in default of its contract for public improvements for the Sycolin Road Frontage Improvements at the Ward Component Plan Site, and is authorized to request payment of $1,740.10 from the letter of credit from The Washington Bank which will be used as the m-lntenance guarantee during the one-year m~intenance period. SECTION II. The Acting Town Manager is also authorized to prepare and execute all documents necessary to enforce all terms of the contract for public improvements for the Sycolin Road Frontage Improvements at the Ward Component Plant. PASSED thi~ 9 ~h ATTEST: 'ci;rk of Coup/cil sycolin -2- day of~ Robert E. Sevila, Mayor Town of Leesburg ,1991.