HomeMy Public PortalAbout1999_07_27_r224The Town of
Leesburg,
Virginia
RESOLUTION NO.
A RESOLUTION:
99-224
ACCEPTNG PUBLIC IMPROVEMENTS,
PERFORMANCE GUARANTEE AND
PRESENTED July 27, 1999
ADOPTED July 27, 1999
RELEASING
APPROVING
THE
A
MAINTENANCE GUARANTEE FOR PUBLIC IMPROVEMENTS AT
STRATFORD PHASE B OFFSITE IMPROVEMENTS
WHEREAS, Stratford Associates, L.C., the developer of Stratford Phase B Offsite
Improvements has completed the public improvements in accordance with approved plans and
town standards, and these have been inspected and approved.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as
follows:
SECTION I. The letter of credit from Virginia First Savings Bank in the amount of
$387,839.00 is released, a new security in a form approved by the town attorney for a
maintenance guarantee in the amount of $19,391.95 is approved, and shall be in effect for a
period of one year from this date.
SECTION II. This release is contingent upon delivery of a properly executed instrument
conveying unto the town all such improvements and easements free of any liens or charges.
PASSED this 27th day of July, 1999.
Jarffes E. Clem, Mayor
Town of Leesburg
Clerk of Council
R:StratfordBOffsitelmp