HomeMy Public PortalAbout1996_05_28_R101 The Town of
Leesburg,
Virginia
RESOLUTION NO.
A RESOLUTION:
PRESENTED May 28, 1996
96-101 ADOPTED blay 28, 1996
ACCEPTING PUBLIC IMPROVEMENTS, RELEASING THE
PERFORMANCE GUARANTEE AND APPROVING A MAINTENANCE
GUARANTEE FOR PUBLIC IMPROVEMENTS AT PAXTON
SUBDIVISION SECTION 2
, 1996.
J31gnes E. Clem, Mayor
//Town of Leesburg
R:paxton2.res
Clerk of Council
PASSED this 28th day of May
WHEREAS, Paxton Development Company, the developer of Paxton Subdivision Section 2 has
completed the public improvements in accordance with approved plans and town standards, and these
have been inspected and approved.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
SECTION I. The letter of credit from F&M Bank-Winchester in the amount of $37,593.22 is
released, a new security in a form approved by the town attorney for a maintenance guarantee in the
amount of $9,398.30 is approved, and shall be in effect for a period of one year from this date.
SECTION II. This release is contingent upon delivery of a properly executed instrument
conveying unto the town all such improvements and easements free of any liens or charges.