HomeMy Public PortalAbout1997_10_14_R243 The Town of
Leesburg,
Virginia
RESOLUTION NO.
A RESOLUTION:
PRESENTED October 14, 1997
97-243 ADOPTED October 14, 1997
MAKING A REDUCTION OF THE PERFORMANCE GUARANTEE FOR
PUBLIC IMPROVEMENTS INSTALLED IN SYCAMORE HILL PHASE I
OFFSITE STORMWATER MANAGEMENT POND
Clerk of Council
, Ja/rrfes E. Clem, Mayor
~l'own of Leesburg
R:syoffred
The Town Manager shall notify the developer that liability for the letter of credit
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 Sycamore Hill Offsite Stormwater Management Pond.
PASSED this 14th day of October , 1997.
SECTION I.
reduced to $25,839.00.
SECTION II.
WHEREAS, the town's Director of Engineering and Public Works has reviewed the public
improvements installed to date in Sycamore Hill Phase I Offsite Stormwater Management Pond and
certified that the value of work performed is $55,024.00; and
WHEREAS, a letter of credit in the amount of $80,863.00 from The Ohio Savings Bank was
provided by the developer and approved by the Council to guarantee installation of public improvements
for Sycamore Hill Offsite Stormwater Management Pond.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
The letter of credit from The Ohio Savings Bank in the amount of $80,863.00 is