HomeMy Public PortalAbout1995_09_12_R177 The Town of
Leesburg,
Virginia
RESOLUTION NO.
A RESOLUTION:
PRESENTED September 12~ 1995
95-177 ADOPTED September 12, 1995
AUTHORIZING A TIME EXTENSION FOR COMPLETION OF PUBLIC
IMPROVEMENTS AND APPROVING A PERFORMANCE GUARANTEE
FOR PAXTON SECTION 2
day of September
,1995.
Jajl~fes E. Clem, Mayor
Town of Leesburg
R:paxton2.res
Clerk of Council
improvements is approved.
PASSED this 12th
WHEREAS, the Paxton Development Company, the developer of Paxton 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
previously approved extensions thereto; and
WHEREAS, the developer is in the final stage of the project and the last three (3) remaining
lots have now been sold; and
WHEREAS, the developer has requested a ninety (90) day time extension to complete the
remaining public improvements; and
WHEREAS, a letter of credit from the F & M Bank Winchester in the amount of $37,593.22 was
provided to guarantee the installation of public improvements in Paxton Section 2.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
SECTION I. The letter of credit from F & M Bank Winchester in the amount of $37,593.22 is
approved to guarantee the installation of public improvements in Paxton Section 2.
SECTION II. A time extension to November 28, 1995 for completion of the remaining public