HomeMy Public PortalAbout1997_10_28_R251 The Town of
Leesburg,
Virginia
RESOLUTION NO.
A RESOLUTION:
PRESENTED October 28, 1997
97-251 ADOPTED October 28, 1997
MAKING A REDUCTION OF THE PERFORMANCE GUARANTEE FOR
PUBLIC IMPROVEMENTS INSTALLED IN LEELAND HEIGHTS
WHEREAS, the town's Director of Engineering and Public Works has reviewed the public
improvements installed to date in Leeland Heights and certified that the value of work performed is
$49,050.00; and
WHEREAS, a letter of credit in the amount of $54,500.00 from The Middleburg Bank was
provided by the developer and approved by the Council to guarantee of public improvements for Leeland
Heights.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
SECTION I. The letter of credit from The Middleburg Bank in the amount of $54,500.00 is
reduced to $5,450.00.
SECTION II. The Town Manager shall notify the developer that liability for the letter of credit
funds 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 Leeland Heights.
PASSED this 28th day of October ,1997.
lem, Mayor
Leesburg
Clerk of Council
R:leeland