HomeMy Public PortalAbout1994_02_22_R035The Town of
Leesburg,
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RESOLUTION NO.
A RESOLUTION:
PRESENTED February 22 ~ 1994
94-35 ADOPTED February 22, 1994
AUTHORIZING A TIME EXTENSION FOR INSTALLATION OF PUBLIC
IMPROVEMENTS AND APPROVING A PERFORMANCE GUARANTEE
FOR PAXTON SUBDIVISION SECTION 2
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
SECTION I. A time extension of one (1) year for the installation of public improvements is
hereby approved for Paxton Subdivision Section 2.
SECTION II. The letter of credit from F & M Bank - Winchester in the amount of $37,593.32
is approved to guarantee the installation of public improvements for Paxton Subdivision Section 2.
PASSED this 22nd day of February , 1994.
Clerk of Council
R:paxsec2.res
J~imes E. Clem, Mayor
Town of Leesburg
WHEREAS, Paxton Development Company, the developer of Paxton Subdivision Section 2, 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 one (1) year time extension to complete the public
improvements; and
WHEREAS, a letter of credit in the amount of $37,593.32 from F & M Bank - Winchester was
provided by the developer to guarantee the installation of public improvements for Paxton Subdivision
Section 2; and
WHEREAS, the Director of Engineering and Public Works has approved the amount of
$37,593.32 to guarantee installation of the remaining public improvements for Paxton Subdivision Section