HomeMy Public PortalAbout1995_12_12_R254The Town of
Leesburg,
rg nm
RESOLUTION NO.
A RESOLUTION:
PRESENTED December 12~ 1995
95-254 ADOPTED December 12~ 1995
AUTHORIZING AN AGREEMENT AND APPROVING A
PERFORMANCE GUARANTEE AND WATER AND SEWER EXTENSION
PERMITS FOR TOWNES OF VANDERBILT SECTION II
WHEREAS, Council Resolution #95-204, adopted October 11, 1995, authorized an agreement
for installation of public improvements and approved water and sewer extension permits for Townes of
Vanderbilt Section II; and
WHEREAS, the developer, The Double T Corporation, did not provide a performance guarantee
for the public improvements; and
WHEREAS, the final subdivision plat for the Townes of Vanderbilt Section II 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 estimated cost to install the public improvements shown on the approved
construction drawings for the Townes of Vanderbilt Section II has been reduced by the Director of
Engineering and Public Works from $163,178.00 to $46,566.00 based on improvements installed as of
November 30, 1995; and
WHEREAS, the developer proposes to provide a letter of credit from the Washington Savings
Bank in the amount of $46,566.00 to guarantee the installation of the public improvements shown on the
plans approved by the Director of Engineering and Public Works for the Townes of Vanderbilt Section
II.
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 the Townes of Vanderbilt Section II.
RESOLUTION:
-2-
AUTHORIZING AN AGREEMENT AND APPROVING A
PERFORMANCE GUARANTEE AND WATER AND SEWER EXTENSION
PERMITS FOR TOWNES OF VANDERBILT SECTION II
SECTION II. the extension of municipal water and sewer for the Townes of Vanderbilt Section
II is approved in accordance with Sections 15-9 and 19-18 of the Town Code.
SECTION III. The letter of credit in a form approved by the Town Attorney from the
Washington Savings Bank in the amount of $46,566.00 is approved a security to guarantee installation
of the public improvements shown on plans approved by the Director of Engineering and Public Works
for the Townes of Vanderbilt Section II.
SECTION IV. The contract for installation of public improvements authorized by Resolution
#95-204 will be cancelled after the new contract and performance guarantee approved by Section I and
II above are executed and in effect.
PASSED this 12th day of
Clerk of Council
December
, 1995.
es E. Clem, Mayor
n of Leesburg
R:townesII.res