HomeMy Public PortalAbout2002_09_10_r151The Town of
eesburg,
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PRESENTED September 10, 2002
RESOLUTION NO. 2 0 0 2- 'l 5 I. ADOPTED September 10, 2002
A RESOLUTION: ACCEPTING PUBLIC IMPROVEMENTS, RELEASING THE
PERFORMANCE GUARANTEES AND APPROVING
MAINTENANCE GUARANTEES FOR PUBLIC IMPROVEMENTS
AT STRATFORD PHASE A, SECTIONS 1 & 2; AND PHASE B,
SECTIONS l&3 AND 2&4
WHEREAS, Stratford Associates, L.C., the developer of Stratford Phase A, Sections 1 &
2; and Phase B, Sections l&3 and 2&4 has completed the public improvements in accordance
with approved plans and town standards and these have been inspected and approved; and
WHEREAS, the Director of Engineering and Public Works recommends accepting the
public improvements and approving a maintenance guarantee for Stratford Phase A, Sections 1
& 2; and Phase B, Sections l&3 and 2&4.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as
follows:
SECTION I. The letters of credit from Virginia First Savings Bank in the amount of
$67,832.00 for Phase A, Section 1; $50,173.00 for Phase A, Section 2; $128,836.00 for Phase B,
Section l&3; and $96,641.00 for Phase B, Section 2&4 are released, and new securities in a form
approved by the town attorney for maintenance guarantees in the amount of $18,543.70 for
Phase A, Section 1; $13,232.10 for Phase A, Section 2; $42,531.30 for Phase B, Section l&3;
and $27,142.80 for Phase B, Section 2&4 are approved, and shall be in effect for a period of one
year from this date.
SECTION II. This release is contingent upon delivery of a properly executed instrument
conveying unto the town all such improvements and easements free of any liens or charges.
-2-
A RESOLUTION:
ACCEPTING PUBLIC IMPROVEMENTS, RELEASING THE
PERFORMANCE GUARANTEES AND APPROVING
MAINTENANCE GUARANTEES FOR PUBLIC IMPROVEMENTS
AT STRATFORD PHASE A, SECTIONS 1 & 2; AND PHASE B,
SECTIONS l&3 AND 2&4
PASSED this l0th day of September 2002.
ATTEST:
(~k of Council
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Town of Leesburg
R02:StratfordPerfRel