HomeMy Public PortalAbout1996_10_08_R211 The Town of
Leesburg,
Virginia
RESOLUTION NO.
A RESOLUTION:
96-211
MAKING
PUBLIC
PRESENTED October 8, 1996
ADOPTED October 8, 1996
A REDUCTION OF THE PERFORMANCE GUARANTEE FOR
IMPROVEMENTS INSTALLED IN RIVER CREEK PARKWAY
WATERLINE RELOCATION
, 1996.
E. Clem, Mayor
~own of Leesburg
R:riverwtr.res
ATTEST:
Clerk of Council
PASSED this 8th day of October
WHEREAS, the town's Director of Engineering and Public Works has reviewed the public
improvements installed to date in River Creek Parkway Waterline Relocation and certified that the value of
work performed is $196,985.70; and
WHEREAS, the corporate surety bond in the amount of $218,873.00 from Fidelity and Deposit
Company was provided by the developer and approved by the Council to guarantee installation of public
improvements for River Creek Parkway Waterline Relocation.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
SECTION I. The corporate surety bond from Fidelity and Deposit Company in the amount of
$218,873.00 is reduced to $21,887.30.
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 River Creek Parkway Waterline Relocation.