HomeMy Public PortalAbout1996_02_13_R028The Town of
Leesburg,
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RESOLUTION NO.
A RESOLUTION:
PRESENTED February 13, 1996
96-28 ADOPTED February 13 ~ 1996
AUTHORIZING A TIME EXTENSION FOR INSTALLATION OF PUBLIC
IMPROVEMENTS AND APPROVING A PERFORMANCE GUARANTEE
FOR EXETER SECTION ?
Pulte Home Corporation, the developer of Exeter Section 7, has not completed
to guarantee the installation of public improvements for Exeter Section 7.
PASSED this 13th day of February
A%:TEST:
Clerk of Council
, 1996.
J~mes E. Clem, Mayor
Town of Leesburg
R:exeter7.res
WHEREAS,
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 six (6) month time extension to complete the public
improvements; and
WHEREAS, a letter of credit in the amount of $1,048,311.00 from NationsBank was provided
by the developer to guarantee the installation of public improvements for Exeter Section 7; and
WHEREAS, the Director of Engineering and Public Works has approved the amount of
$1,048,311.00 to guarantee installation of the remaining public improvements for Exeter Section 7.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
SECTION I. A time extension of six (6) months for the installation of public improvements is
hereby approved for Exeter Section 7.
SECTION II. The letter of credit from NationsBank in the amount of $1,048,311.00 is approved