HomeMy Public PortalAbout2003_06_10_r100The Town of
Leesburg,
PRESENTED June 10, 2003
RESOLUTION NO. 2 0 0 3- 1 0 0 ADOPTED June 10, 2003
A RESOLUTION: APPROVING A SUBSTITUTE PERFORMANCE GUARANTEE FOR
BATTLEFIELD MARKETPLACE
WHEREAS, Council Resolution //2003-63 adopted on April 22, 2003, approved a corporate
surety bond from the Fidelity and Deposit Company of Maryland in the amount of $1,023,602.00 as
security to guarantee installation of public improvements as shown on plans approved by the Director of
Engineering and Public Works for Battlefield Marketplace; and
WHEREAS, Target Corporation has requested to provide, in place of the previously approved
corporate surety bond, a corporate surety bond in the amount of $1,023,602.00 for Battlefield
Marketplace fi.om Atlantic Mutual Insurance Company and is requesting approval of the same; and
WHEREAS, the Director of Engineering and Public Works recommends approval of a substitute
performance guarantee for Battlefield Marketplace.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
The substitute corporate surety bond in a form approved by the town attorney from Atlantic
Mutual Insurance Company in the amount of $1,023,602.00 is approved as security to guarantee
installation of the public improvements shown on plans approved by the Director of Engineering and
Public Works for Battlefield Marketplace.
PASSED this 10m day of June 2003.
kof Council
Town of Leesburg
R03:BatMarkPlace SubstBond