HomeMy Public PortalAbout1996_07_09_R157The Town of
Leesburg,
rg ma
RESOLUTION NO.
A RESOLUTION:
96-157
PRESENTED July 9, 1996
ADOPTED July 9, 1996
AUTHORIZING A TIME EXTENSION FOR INSTALLATION OF PUBLIC
IMPROVEMENTS AND APPROVING A PERFORMANCE GUARANTEE
FOR EXETER SECTION 7
James E. Clem, Mayor
Town of Leesburg
R:exeter7.res
, 1996.
WHEREAS, Pulte Home Corporation, the developer of Exeter Section 7, 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 one (1) year time extension to complete the public
improvements; and
WHEREAS, a letter of credit in the amount of $274,622.40 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
$274,622.40 to guarantee installation of the remaining public improvements for Exeter 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 $274,622.40 is approved
to guarantee the installation of public improvements for Exeter Section 7.
PASSED this 9th day of July