HomeMy Public PortalAbout1997_03_11_R059The Town of
Leesburg,
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RESOLUTION NO.
A RESOLUTION:
PRESENTED }larch I1, 1997
97-59 ADOPTED ~.~a,','h ~l, 1997
ACCEPTING PUBLIC IMPROVEMENTS, RELEASING THE PERFORMANCE
GUARANTEE AND APPROVING A MAINTENANCE GUARANTEE FOR
PUBLIC IMPROVEMENTS AT EXETER SECTION 11
Globe USA, Inc., the developer of Exeter Section 11 has completed the public
PASSED this llth day of ?larch
ATTEST:
'Clerk of Council
,1997.
J~mes E. Clem, Mayor
Town of Leesburg
R:exel Irel.res
WHEREAS,
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 the District of Columbia Riggs National Bank, confirmed by
Riggs National Bank of Virginia in the amount of $121,900.00 is released, a new security in a form approved
by the town attorney for a maintenance guarantee in the amount of $60,950.00 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.