HomeMy Public PortalAbout1991_10_22_R240The Town of
Leesburg,
rgtma
RESOLUTION NO. 91-2z~0
PRESENTED October 22, 1991
ADOPTED October 22, 1991
A RESOLUTION: RELEASING THE $100,000 PERFORMANCE CORPORATE SURETY BOND FOR CABLE
SYSTEM CONSTRUCTION BY MULTIVISlON CABLE TV CORPORATION
WHEREAS, on October 31, 1988, Multivision Cable TV Corporation (ML Media) provided the Town of
Leesburg with a $100,000 performance corporate surety bond to ensure the completion of cable system
construction; and
WHEREAS, Section 5.1-20(b) of the Town Code provides that the bond may be released by the town upon
the franchisee constructing a cable television system servicing all homes within the franchise territory; and
WHEREAS, Multivision has requested that the performance bond be released, effective November 1, 1991;
and
WHEREAS, on October 17, 1991, the Cable Television Advisory Commission determined that Multivision
has met the requirements of the Town Code regarding construction of the cable system and unanimously
recommended that the bond be released; and
WHEREAS, the town retains a replenishable $5,000 cash bond as security for the faithful performance of
the franchisee throughout the term of the franchise.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
The $100,000 performance corporate surety bond held by Multivision Cable TV Corporation (ML Media)
is hereby released.
PASSED this 22nd
day of October , 1991.
ATTEST:
Clerk of Council' '
Robert E. Sevila, Mayor
Town of Leesburg
r:cablebond