HomeMy Public PortalAbout2002_05_29_r077 The Town of
.eesburg,
".-, irginia
PRESENTED May 29, 2002
RESOLUTION NO. 2002-77 ADOPTED May 29, 2002
A RESOLUTION: AUTHORIZING AN AGREEMENT AND APPROVING A PERFORMANCE
GUARANTEE AND WATER AND SEWER EXTENSION PERMITS FOR
THE HAMLET AT LEESBURG
WHEREAS, K&M Properties LC, the developer of The Hamlet at Leesburg has requested the
approval of a letter of credit from the Branch Banking & Trust Company of Virginia in the amount of
$709,905.00 to guarantee the public improvements in The Hamlet at Leesburg; 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 Hamlet at
Leesburg.
RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
SECTION I. The town 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
Hamlet at Leesburg.
SECTION II. The extension of municipal water and sewer for The Hamlet at Leesburg is
approved in accordance with Sections 15-9 and 19-18 of the Town Code.
SECTION III. The letter of credit in a form approved by the town attorney from the Branch
Banking & Trust Company of Virginia in the amount of $709,905.00 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 Hamlet at Leesburg.
PASSED this 29th day of May 2002.
;ST:
rk of Council
B.j.~WeLayor~(-J~~
Town of Leesburg
R:TheHamlet