HomeMy Public PortalAbout1991_07_23_R161The Town of
Leesburg,
Virginia
PRESENTED July 23, 1991
RESOLUTION NO. 91-161 ADOPTED July 23, 1991
A RESOLUTION: AUTHORIZING A TIME EXTENSION FOR INSTAI.I.ATION 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 period agreed to in the contract for public improvements and previous time
extension; and
W}tEREAS, the developer has requested a time extension to September 1, 1991 to complete the
public improvements; and
WHEREAS, the letter of credit from Signet Bank/Mary]and, 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 installation of the remaining 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 Bank/Maryland in the amount of $206,991.84 in a
form approved by the Town Attorney and a time extension to September 1, 1991 for the installation
of public improvements are hereby approved for Beauregard Estates Phase I.
PASSED this 23rd
ATTEST:
Clerk of Counhil'
beauregard.epl
day of ~991
Robert E. Sevila, Mayor
Town of Leesburg