HomeMy Public PortalAbout2001_03_13_r029
The Town of
I.leesburg,
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RESOLUTION NO.
PRESENTED March 13.2001
2001-29
ADOPTED
March 13.2001
A RESOLUTION:
AUTHORIZING AN AGREEMENT AND APPROVING A PERFORMANCE
GUARANTEE AND WATER AND SEWER EXTENSION PERMITS FOR
THE AIRPORT COMMERCE PARK
WHEREAS, the National Institute for Automotive Service Excellence, the developer of the
Airport Commerce Park has requested the approval of a cash bond in the amount of $595,323.00 to
guarantee the public improvements at the Airport Commerce Park; and
WHEREAS, the Director of Engineering and Public Works recommends approval of a contract
for installation of public improvements and acceptance of a performance guarantee for the Airport
Commerce Park.
RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
SECTION 1. The manager shall execute the contract for public improvements for the
improvements shown on the plans approved by the Director of Engineering and Public Works for the
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Airport Commerce Park.
SECTION II. The extension of municipal water and sewer for the Airport Commerce Park is
approved in accordance with Section 15-9 and 19-18 of the Town Code.
SECTION III. The cash bond in the amount of $595,323.00 is approved as security to guarantee
installation of the public improvements shown on plans approved by the Director of Engineering and
Public Works for the Airport Commerce Park.
SECTION IV. The $595,323.00 cash bond on deposit shall generate market rate interest, as
earned by the town.
PASSED this 13th day of March 2000.
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B.J. W b, Mayor
Town of Leesburg
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ATTEST:
~ .td o;t.d
erk of CouncIl
R:AirportComrnPark