HomeMy Public PortalAbout1992_05_12_R066The Town of
Leesburg,
Virginia
RESOLUTION NO.
A RESOLUTION:
PRESENTED May 12, 1992
92-66 ADOPTED May 12, 1992
ACCEPTING PUBLIC IMPROVEMENTS, RET,EASING THE PERFORMANCE
GUARANTEE AND APPROVING A MAINTENANCE GUARANTEE FOR
PUBLIC IMPROVEMENTS AT THE EXETER BIG SPRINGS PUMP STATION
ATTEST:
PASSED this 12th day of
May , 1992.
Robert E. S~vi~a, fMayor
Town of Leesburg
Clerk of Council
r:exeter.bsp
WHEREAS, Richmond American Homes, the developer of the Exeter Big Springs Pump Station,
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 First American Bank in the amount of
$50,868.00 is released, and a new security in a form approved by the town attorney for a maintenance
guarantee in the amount of $12,717.00 is approved, and shall be in effect for a period of one year from
this date.
SECTION Il. 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.