HomeMy Public PortalAbout1992_08_11_R157The Town of
Leesburg,
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RESOLUTION NO. 92-157
A RESOLUTION:
PRESENTED August 11, 1992
ADOPTED Au~;ust 11, 1992
AUTHORIZING A TIME EXTENSION AND APPROVING A PERFORMANCE
GUARANTEE FOR INSTALLATION OF PUBLIC IMPROVEMENTS FOR
THE CATTAIL BRANCH STORMWATER MANAGEMENT POND
are hereby approved.
PASSED this
llth
ATTEST:
Clerk of Council
day of August , 1992.
James E. Clem, Mayor
Town of Loesburg
WHEREAS, the Pulte Home Co~orafion, the developers of the Cattail Branch Stormwater
Management Pond, has not completed all the required public improvements in accordance with the
approved construction drawings and town standards within the two year period agreed to in the contract
for public improvements; and
WHEREAS, the developer has requested a 60 day time extension to complete the public
improvements; and
WHEREAS, the letter of credit from First American Bank, which guarantees the installation
of public improvements, in the amount of $234,695.00 expires on August 7, 1992; and
WHEREAS, a new letter of credit from Nations Bank in the amount of $234,695.00 has been
provided by the developer to guarantee installation of the remaining public improvements for the Cattail
Branch Stormwater Management Pond.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
SECTION I. The letter of credit from Nations Bank in the amount of $234,695.00 in a form
approved by the Town Attorney and an extension of 60 days for the installation of public improvements