HomeMy Public PortalAbout1997_07_22_R195The Town of
Leesburg,
rgm a
PRESENTED July 22, 1997
RESOLUTION NO. 97-195 ADOPTED July 22, 1997
A RESOLUTION: MAKING A REDUCTION OF THE PERFORMANCE GUARANTEE FOR
PUBLIC IMPROVEMENTS INSTALLED AT THE MIDDLEBURG BANK -
PERMANENT BANK SITE
WHEREAS, the town's Director of Engineering and Public Works has reviewed the public
improvements installed to date at The Middleburg Bank - Permanent Bank Site and certified that the value
of work performed is $75,184.81; and
WHEREAS, a cash bond in the amount of $83,538.68 was provided by the developer and
approved by the Council to guarantee installation of public improvements for The Middleburg Bank -
Permanent Bank Site.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
SECTION I. The cash bond from The Middleburg Bank in the amount of $83,538.68 is reduced
to $8,353.87.
SECTION II. The Town Manager shall notify the developer that liability for the cash 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 The Middleburg Bank - Permanent Bank Site.
PASSED this 22nd day of July ., 1997.
es E. Clem, Mayor
n of Leesburg
Clerk of Council
R:midburg