HomeMy Public PortalAbout2005_04_12_r065The Town of
Leesburg,
Virginia
RESOLUTION NO.
A RESOLUTION:
PRESENTED April 12, 2005
2005-65 ADOPTED April 12, 2005
ACCEPTING PUBLIC IMPROVEMENTS, RELEASING THE
PERFORMANCE GUARANTEE AND APPROVING A MAINTENANCE
GUARANTEE FOR PUBLIC IMPROVEMENTS AT THE POTOMAC
CROSSING SECTION 3A-1
WHEREAS, Arcadia Development Company, the developer of Potomac Crossing Section 3A-1
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 Potom~ac Crossing Section 3A-1.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
SECTION I. The corporate surety bond from The American Insurance Company in the
amount of $122,643.70 is released, and a new security in a form approved by the town attorney for a
maintenance guarantee in the amount of $26,189.75 is 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.
PASSED this 12t~ day of April 2005.
ATrEST:
l~k of Council
~i2. ~tattd, iVlayor ' (
Town of Leesburg
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