HomeMy Public PortalAbout1991_08_13_R177The Town of
Leesburg,
Virginia
RESOLUTION NO. 91-177
A RESOLUTION: RELEASING THE PERFORMANCE
IMPROVEMENTS AT THE PAXTON SECTION I SUBDIVISION
PRESENTED August 13, 1991
ADOPTED August 13, 1991
GUARANTEE FOR PUBLIC
WHEREAS, Brownell, Inc., the developer of Paxton Section I, has complied with the provisions
of the contract for installation of public improvements in the Paxton Section I Subdivision since the
invoice for $9,918.00 for street light installation has been paid.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
SECTION I. The irrevocable letter of credit from Equitable Federal Savings Bank in the
amount of $52,000.00 is released, contingent upon the developer providing a new surety in a form
approved by the town attorney for a maintenance guarantee in the amount of $13,000.00, which shall
be in effect for the one year maintenance term.
SECTION II. This release is contingent upon delivery of a properly executed instrument
conveying unto the town all such improvements free of any liens or charges.
SECTION III. Sections I, III and IV of Resolution 91-145 are hereby rescinded.
PASSED this 13th day of August , 1991.
ATTEST:
Clerk of CoUncil '
paxton.sub
Robert E. Sevila, Mayor
Town of Leesburg