HomeMy Public PortalAbout1999_05_11_r133The Town of
Leesburg,
Virginia
RESOLUTION NO.
A RESOLUTION:
99-133
MAKING A REDUCTION OF
PUBLIC IMPROVEMENTS
SECTION lB
PRESENTED May 11, 1999
ADOPTED May 11, 1999
THE PERFORMANCE GUARANTEE FOR
INSTALLED IN POTOMAC STATION
WHEREAS, the town's Director of Engineering and Public Works has reviewed the public
improvements installed to date in Potomac Station Section lB and certified that the value of work
performed is $47,529.00; and
WHEREAS, a corporate surety bond in the amount of $52,811.00 from Liberty Mutual Insurance
Company was provided by the developer and approved by the Council to guarantee installation of public
improvements for Potomac Station Section lB.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
SECTION I. The corporate surety bond from Liberty Mutual Insurance Company in the amount
of $52,811.00 is reduced to $5,281.10.
SECTION II. The Town Manager shall notify the developer that liability for corporate surety
bond 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 Potomac Station Section lB.
PASSED this llth day of May, 1999.
Clerk of Council
Ja~es E. Clem, Mayor
Town of Leesburg
R:potomacStation 1 B