HomeMy Public PortalAbout1994_08_09_R166The Town of
Leesburg,
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RESOLUTION NO.
A RESOLUTION:
PRESENTED August 9~ 1994
94-166 ADOPTED August 9, 1994
AUTHORIZING ANAGREEMENTANDAPPROVING A PERFORMANCE
GUARANTEE FOR GREENWAY FARM SECTION 4A
WHEREAS, Council Resolution #94-105, adopted on May 24, 1994, authorized an agreement for
installation of public improvements and approved water and sewer extension permits for Greenway Farm
Section 4; and
WHEREAS, the developer, Trafalgar House, did not provide a performance guarantee for the public
improvements; and
WHEREAS, the final subdivision plat for Greenway Farm Section 4 cannot be recorded until the
public improvements are completed and accepted by the Town Council or a performance guarantee acceptable
to the Town Council is provided; and
WHEREAS, the developer has divided Section 4 into two parts, Section 4A and 4B; and
WHEREAS, the estimated cost to install the public improvements shown on the approved
construction drawings for Greenway Farm Section 4A is $220,000.00; and
WHEREAS, the developer proposes to provide a corporate surety bond from American Home
Assurance Company in the amount $220,000.00 to guarantee the installation of the public improvements shown
on the plans approved by the Director of Engineering and Public Works for Greenway Farm Section 4A.
RESOLVED, by the Council of the Town of Leesburg in Virginia as follows:
SECTION I. The Manager shall execute a new contract for installation of public improvements
for the improvements shown on the plans approved by the Director of Engineering and Public Works for
Greenway Farm Section 4A.
SECTION II. The corporate surety bond in a form approved by the Town Attorney from American
Home Assurance Company in the amount of $220,000.00 is approved as security to guarantee installation of
the public improvements shown on plans approved by the Director of Engineering and Public Works for
Greenway Farm Section 4A.
RESOLUTION:
-2-
AUTHORIZING AN AGRREMENT AND APPROVING A PERFORMANCE
GUARANTEE FOR GREENWAY FARM SECTION 4A
SECTION III. The contract for installation of public improvements authorized by Resolution #94-
105 will be cancelled after the new contract and performance guarantee approved in Sections I and II above
are executed and in effect.
PASSED this 9th
day of August
,1994.
~es~. Clem, Mayor ~
Town of Leesburg
ATYEST:
Clerk of Council
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