HomeMy Public PortalAbout1997_07_22_R183 The Town of
Leesburg,
Virginia
RESOLUTION NO.
A RESOLUTION:
PRESENTED July 22, 1997
97-183 ADOPTED July 22, 1997
AUTHORIZING AN AGREEMENT AND APPROVING A PERFORMANCE
GUARANTEE AND WATER AND SEWER EXTENSION PERMITS FOR
TOWNES OF VANDERBILT SECTION III
WHEREAS, Council Resolution #97-67, adopted on March 25, 1997, authorized an agreement for
installation of public improvements for Townes of Vanderbilt Section III; and
WHEREAS, the developer, The Double T Corporation, did not provide a performance guarantee
for the public improvements; and
WHEREAS, the final subdivision plat for Townes of Vanderbilt Section III cannot be recorded
until the public improvements are completed and accepted by the Town Council or a performance
guarantee acceptable to the Town Council is provided; and
WHEREAS, the estimated cost to install the public improvements shown on the approved
construction drawings for Townes of Vanderbilt Section III has been reduced by the Director of
Engineering and Public Works from $370,793.61 to $246,552.81 based on improvements installed as of
June 25, 1997; and
WHEREAS, the developer proposes to provide a letter of credit from The Washington Savings
Bank in the amount of $246,552.81 to guarantee the installation of the public improvements shown on the
plans approved by the Director of Engineering and Public Works for Townes of Vanderbilt Section III.
RESOLVED, by the Council of the Town of Leesburg in Virginia as follows:
SECTION I. The Manager shall execute a new contract for installation of public improvements
for the improvements shown on the plans approved by the Director of Engineering and Public Works for
Townes of Vanderbilt Section III.
SECTION II. The letter of credit in a form approved by the Town Attorney from The Washington
Savings Bank in the amount of $246,552.81 is approved as security to guarantee installation of the public
improvements shown on the plans approved by the Director of Engineering and Public Works for Townes
of Vanderbilt Section III.
A RESOLUTION:
-2-
AUTHORIZING AN AGREEMENT AND APPROVING A PERFORMANCE
GUARANTEE AND WATER AND SEWER EXTENSION PERMITS FOR
TOWNES OF VANDERBILT SECTION III
SECTION III. The extension of municipal water and sewer for Townes of Vanderbilt Section III
is approved in accordance with Sections 15-9 and 19-18 of the Town Code.
SECTION IV. The contract for installation of public improvements authorized by Resolution
#97-67 will be canceled after the new contract and performance guarantee approved in Section I and II
above are executed and in effect.
PASSED this 22nd day of July ,1997.
AT/TEST:
Clerk of Council
J~f~s E. Clem, Mayor
,/Town of Leesburg
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