HomeMy Public PortalAbout2000_07_25_r143The Town of
l .eesburg,
%irginia
PRESENTED July 25, 2000
RESOLUTION NO. 2000-143 ADOPTED July 25, 2000
A RESOLUTION: APPROVING A SUBSTITUTE PERFORMANCE GUARANTEE FOR
POTOMAC CROSSING SECTION 6 & THE POTOMAC CROSSING
TRAFFIC SIGNAL AT BATTLEFIELD PARKWAY AND SHANKS
EVANS DRIVE
WHEREAS, Council Resolution(s) 2000-131 & #2000-135 adopted on July 11, 2000,
approved corporate surety bonds from The American Insurance Company as security to
guarantee installation of public improvements as shown on plans approved by the Director of
Engineering and Public Works for Potomac Crossing Section 6 and the Potomac Crossing
Traffic Signal at Battlefield Parkway and Shanks Evans Drive; and
WHEREAS, Arcadia Building Company has requested to replace the previously
approved corporate surety bonds with corporate surety bonds in the amount of $861,748.22 for
Potomac Crossing Section 6 and $120,000.00 for the Potomac Crossing Traffic Signal at
Battlefield Parkway and Shanks Evans Drive from the Lumbermens Mutual Casualty Company
and is requesting approval of the same; and
WHEREAS, the Director of Engineering and Public Works recommends approval of a
substitute performance guarantees for Potomac Crossing Section 6 and the Potomac Crossing
Traffic Signal at Battlefield Parkway and Shanks Evans Drive.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as
follows:
SECTION I. The substitute corporate surety bonds from the Lumbermens Mutual
Casualty Company in the amount of $861,748.22 for Potomac Crossing Section 6 and
A RESOLUTION:
-2-
APPROVING A SUBSTITUTE PERFORMANCE GUARANTEE FOR
POTOMAC CROSSING SECTION 6 & THE POTOMAC CROSSING
TRAFFIC SIGNAL AT BATTLEFIELD PARKWAY AND SHANKS
EVANS DRIVE
$120,000.00 for the Potomac Crossing Traffic Signal at Battlefield Parkway and Shanks Evans
Drive in a form approved by the town attorney are approved.
SECTION II. The corporate surety bonds from The American Insurance Company in the
amount of $861,748.22 for Potomac Crossing Section 6 and $120,000.00 for the Traffic Signal at
Battlefield Parkway and Shanks Evans Drive are released contingent upon approval by the town
attomey of the substitute corporate surety bonds from the Lumbermens Mutual Casualty
Company.
PASSED this 25th day of July 2000.
ATTEST:
Cierk of Counci~~~
B.J. WeqSb, Mayor
Town of Leesburg
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