HomeMy Public PortalAbout1996_04_23_R074 The Town o/
Leesburg,
Virginia
RESOLUTION NO. 96-74
PRESENTED April 23, 1996
ADOPTED April 23~ 1996
A RESOLUTION:
AUTHORIZING A TIME EXTENSION FOR INSTALLATION OF PUBLIC
IMPROVEMENTS AND APPROVING A PERFORMANCE GUARANTEE
FOR EXETER SECTION 11
WHEREAS, Globe USA, Inc., the developer of Exeter Section 11, 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
time extensions; 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 $243,800.00 from the District of Columbia Riggs
National Bank, conlirmcd by Riggs National Bank of Virginia was provided by the developer to
guarantee the installation of public improvements for Exeter Section 11; and
WHEREAS, thc Director of Engineering and Public Works has approved the amount of
$243,800.00 to guarantee installation of the remaining public improvements for Exeter Section 11.
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 11.
SECTION II. The letter of credit from the District of Columbia Riggs National Bank, confirmed
by Riggs National Bank of Virginia in the amount of $243,800.00 is approved to guarantee the
installation of public improvements tbr Exeter Section 11.
PASSED this 23rd day of April
Clerk of Council
, 1996.
James E. Clem, Mayor
Town of Leesburg
R:exeterll.res