HomeMy Public PortalAbout1996_04_23_R076The Town of
Leesburg,
.rg ma
RESOLUTION NO.
A RESOLUTION:
96-76
PRESENTED April 23, 1996
MAKING A REDUCTION
PUBLIC IMPROVEMENTS
SECTION 6
ADOPTED April 23:1996
WHEREAS,
improvements installed to date
performed is $468,470.00; and
WHEREAS, a corporate
OF THE PERFORMANCE GUARANTEE FOR
INSTALLED IN GREENWAY FARM
the town's Director of Engineering and Public Works has reviewed the public
in Greenway Farm Section 6 and certified that the value of work
surety bond in the amount of $540,000.00 from the American Home
Assurance Company was provided by the developer and approved by the Council to guarantee installation
of public improvements for Greenway Farm Section 6.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
SECTION I. The corporate surety bond from the American Home Assurance Company in the
amount of $540,000.00is reduced to $71,530.00.
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 Greenway Farm Section 6.
PASSED this 23rd day of April , 1996.
Clerk of Council
James E. Clem, Mayor
Town of Leesburg
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