HomeMy Public PortalAbout2004_05_11_r065The Town of
Leesburg,
Virginia
RESOLUTION NO.
A RESOLUTION:
PRESENTED May 11, 2004
2 0 0 4 ~ 6 5 ADOPTED May 11, 2004
ACCEPTING PUBLIC IMPROVEMENTS, RELEASING THE
PERFORMANCE GUARANTEE AND APPROVING A MAINTENANCE
GUARANTEE FOR PUBLIC IMPROVEMENTS AT KINCAID FOREST
SECTIONS 10B & 10C
WHEREAS, Kincaid VA, L.L.C., the developer of Kineaid Forest Sections 10B and 10C has
completed the public improvements in aceor~ with approved plans and town standards and these
have been inspected and approved; and
WHEREAS, the Director of Engineering and Public Works recormnends accepting the public
improvements and approving a maintenance guarantee for Kincaid Forest Section. s 10B and 10C.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
SECTION I. The letters of credit from the Mercantile-Safe Deposit and Trust Company in the
amount of $92,930.00 for Section 10B; and in the mount of $67,669.00 for Section 10C are released, and
a new security in a form approved by the town attorney for a maintenance guarantee in the amount of
$23,025.00 for Section 10B; and in the amount of $33,834.57 for Section 10C 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.
PA~SSED this 11~ day of May 2004.
ffferk of Council
~s~'~el~'C. Un~attd, Mayor
Town of Lecsburg
R04:Kineaid IOB&C Pea'fRei