HomeMy Public PortalAbout1995_12_12_R256The Town of
Leesburg,
Virginia
PRESENTED December 12~
RESOLUTION NO. 95-256 ADOPTED December 12,
A RESOLUTION: MAKING A REDUCTION OF THE PERFORMANCE GUARANTEE FOR
PUBLIC IMPROVEMENTS INSTALLED IN THE DULLES TOLL ROAD
(DULLES GREENWAY)
WHEREAS, the town's Director of Engineering and Public Works has reviewed the public
improvements installed to date in the Dulles Toll Road (Dulles Greenway) and certified that the value
of work performed exceeds $1,055,589.60; and
WHEREAS, a corporate surety bond in the amount of $1,319,487.00 from the AMWEST Surety
Insurance Company was provided by the developer and approved by the Council to guarantee installation
of public improvements for the Dulles Greenway.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
SECTION I. The corporate surety bond from the AMWEST Surety Insurance Company in the
amount of $1,319,487.00 is reduced to $263,897.40.
SECTION II. The Town Manager shall notify the developer that liability for the corporate surety
bond has been reduced as outlined in Section I of this resolution and that this reduction does not
constitute acceptance of public improvements by the town or relieve the developer of responsibilities
outlined in the contract for public improvements for the Dulles Greenway.
PASSED this 12th day of December , 1995.
Clerk of Council
Jj~nes E. Clem, Mayor
Town of Leesburg
R:grnway.res
1995
1995