HomeMy Public PortalAbout2000_10_17_r197 The Town of
1 .eesburg,
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RESOLUTION NO.
PRESENTED October 17, 2000
2000-197 ADOPTED October 17, 2000
ARESOLUTION: APPROVING A SUBSTITUTE PERFORMANCE GUARANTEE FOR
POTOMAC STATION DRIVE (STATION 31+62.29 TO STATION 42+96.03)
WHEREAS, the Town Council adopted Resolution #2000-60 on March 28, 2000 which
approved a corporate surety bond in the amount of $884,038.49 from Frontier Insurance Company to
guarantee the installation of public improvements in Potomac Station Drive (Station 31+62.29 to Station
42+96.03); and
WHEREAS, Goose Creek Communities, L.L.C., the developers of Potomac Station Drive
(Station 31+62.29 to Station 42+96.03,) have requested approval of a substitute corporate surety bond
from the RLI Insurance Company in the amount of $884,038.49 to guarantee the public improvements in
Potomac Station Drive (Station 31+62.29 to Station 42+96.03); and
WHEREAS, the Director of Engineering and Public Works recommends approval of the
corporate surety bond from RLI Insurance Company in the amount of $884,038.49 for Potomac Station
Drive (Station 31+62.29 to Station 42+96.03).
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
SECTION I. A corporate surety bond in a form approved by the town attorney from the RLI
Insurance Company in the amount of $884,038.49 is approved as security to guarantee installation of the
public improvements shown on plans approved by the Director of Engineering and Public Works for
Potomac Station Drive (Station 31+62.29 to Station 42+96.03).
PASSED this 17th day of October, 2000.
k of Council
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Town of Leesburg
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