HomeMy Public PortalAbout1991_04_23_R088The Town of
Leesburg,
Virginia
PRESENTED
RESOLUTION NO. 91-88 ADOPTED
A RESOLUTION:
April 23, 1991
April 23, 1991
ACCEPTING PUBLIC IMPROVEMENTS, REI.EASING THE PERFORMANCE
GUARANTEE AND APPROVING A MAINTENANCE GUARANTEE FOR
PUBLIC IMPROVEMENTS AT CARDINAL INDUSTRIAL PARK LOTS 5 AND
6
WHEREAS, the Cardinal Park Joint Venture, the developer of Cardinal Industrial Park Lots 5 and
6, has completed the public improvements in accordance with approved plans and town standards, and
these have been inspected and approved.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
SECTION I. The irrevocable letter of credit from Maryland National Bank in the amount of
$245,000.00 is released, and a new surety in a form approved by the town attorney for a maintenance
guarantee in the amount of $12,250.00 is approved, and shall be in effect for a period of one year from
this date.
SECTION II. This release is contingent upon delivery of a properly executed instrument
conveying unto the town all such improvements and easements free of any liens or charges.
PASSED this 23rd day of April , 1991.
ATTEST:
cardinal.56
Robert E. Sevila, Mayor
Town of Leesburg