HomeMy Public PortalAbout1991_04_23_R087The Town of
Leesburg,
trgtma
PRESENTED April 23. 1991
RESOLUTION NO. 91-87 ADOPTED April 23, 1991
A RESOLUTION: AUTHORIZING A TIME EXTENSION FOR INSTALLATION OF PUBLIC
IMPROVEMENTS AND APPROVING A PERFORMANCE GUARANTEE FOR
BEAUREGARD ESTATES PHASE I
WHEREAS, the NP Corporation, the developers of Beauregard Estates Phase I, has not completed
all the required public improvements in accordance with the approved construction drawings and town
standards within the six month period agreed to in the contract for public improvements; and
WHEREAS, the developer has requested a 60 day time extension to complete the public
improvements; and
WHEREAS, the letter of credit from Signet Bank/Maryland, which guarantees the installation
of public improvements in Beauregard Estates Phase I, in the amount of $206,991.84 automatically
renews for additional one-year periods; and
WHEREAS, the Director of Engineering and Public Works has approved the amount of
$206,991.84 to guarantee inst~ll-tion of the rem,ining public improvements in Beauregard Estates
Phase I.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
Renewal of the letter of credit from Signet B~,l~.fMaryland in the amount of $206,991.84 in a
form approved by the Town Attorney and a time extension of 60 days for the inst~]~-tion of public
improvements are hereby approved for Beauregard Estates Phase I.
PASSED this 23rd day of April ,1991.
ATTEST:
Clerk of Council
Robert E. Sevila, Mayor
Town of Leesburg