HomeMy Public PortalAbout2003_02_11_r023The Town of
Leesburg,
,. .trgtma
PRESENTED February 11, 2003
RESOLUTION NO. 2003-23 ADOPTED February 11, 2003
A RESOLUTION: AUTHORIZING AN AGREEMENT AND APPROVING A
PERFORMANCE GUARANTEE AND WATER AND SEWER
EXTENSION PERMITS FOR POTOMAC STATION PARCEL "B"
WHEREAS, Potomac Station (E&A), LLC, the developer of Potomac Station Parcel "B", has
requested approval of a corporate surety bond from the Gulf Insurance Group in the amount of
$673,000.00 to guarantee the public improvements; 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
Potomac Station Parcel "B".
THEREFORE, 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 Engineenng and Public Works for
Potomac Station Parcel "B".
SECTION II. The extension of municipal water and sewer for Potomac Station Parcel "B"
is approved in accordance with Section 15-9 and 19-18 of the Town Code.
SECTION III. The corporate surety bond in a form approved by the town attorney from the
Gulf Insurance Group in the amount of $673,000.00 is approved as security to guarantee installation
of the public improvements shown on plans approved by the Director of Engineering and Public
Works for Potomac Station Parcel "B".
PASSED this 11th day of February 2003.
ATTEST:
~e~k of council
R:PotStaPacB