HomeMy Public PortalAbout2000_10_17_r196The Town of
Leesburg,
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PRESENTED October 17, 2000
RESOLUTION NO. 2000-196 ADOPTED October 17, 2000
A RESOLUTION: MAKING A REDUCTION OF THE PERFORMANCE GUARANTEE FOR
PUBLIC IMPROVEMENTS INSTALLED IN SYCAMORE HILL PHASE II
SECTION 3
WHEREAS, the town's Director of Engineering and Public Works has reviewed the public
improvements installed to date in Sycamore Hill Phase II Section 3 and certified that the value of work
performed is $28,107.80; and
WHEREAS, a cash bond in the current amount of $46,988.00 was provided by the developer and
approved by the Council to guarantee installation of public improvements in Sycamore Hill Phase II
Section 3; and
WHEREAS, the Director of Engineering and Public Works recommends reducing the
performance guarantee for public improvements in Sycamore Hill Phase II Section 3.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
SECTION I. The cash bond in the amount of $46,988.00 is reduced to $18,880.20.
SECTION II. The town manager shall notify the developer that liability for cash 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 Sycamore Hill Phase 1I Section 3.
PASSED this 17t~ day of October, 2000.
ATTEST:
of Council
Town of Leesburg
R:SycaHillph2sec3