HomeMy Public PortalAbout2000_02_08_r033 The Town of
Leesburg,
Virginia
PRESENTED February 8, 2000
RESOLUTION NO. 2000-33 ADOPTED February 8, 2000
A RESOLUTION: MAKING A REDUCTION OF THE PERFORMANCE GUARANTEE
FOR PUBLIC IMPROVEMENTS INSTALLED IN TAVISTOCK
FARMS SECTION 1 l&12 AND SECTION 13,19,20&21
WHEREAS, the town's Director of Engineering and Public Works has reviewed the
public improvements installed to date in Tavistock Farms Section 1 l&12 and 13,19,20&21 and
certified that the value of work performed is as follows:
Section 1 l&12 $737,730.00
Section 13,19,20&21 $1,432,053.00
WHEREAS, corporate surety bonds from the American Insurance Company in the
amounts listed below were provided by the developer and approved by the Council to guarantee
installation of public improvements in the following sections of the Tavistock Farms
Development:
Section 1 l&12
Section 13,19,20&21
$882,694.00
$1,637,094.00
WHEREAS, the Director of Engineering and Public Works recommends reducing the
performance guarantee for public improvements installed in these sections of the Tavistock
Farms Development.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as
follows:
A RESOLUTION:
-2-
MAKING A REDUCTION OF THE PERFORMANCE GUARANTEE
FOR PUBLIC IMPROVEMENTS INSTALLED IN TAVISTOCK
FARMS SECTION l l&12 AND SECTION 13,19,20&21
SECTION I. The corporate surety bonds from the American Insurance Company are
reduced as follows:
Section 1 l&12 $144,964.00
Section 13,19,20&21 $205,041.00
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 Tavistock
Farms Section 1 l&12 and Section 13,19,20&21.
PASSED this 8th day of February 2000.
ATTEST:
'C]er~ of~ouncil~?,~ -~'~
J~{mes E. Clem, Mayor
Town of Leesburg
R:TavistockReductions