HomeMy Public PortalAbout2005_09_27_r149The Town of
Leesburg,
Virginia
RESOLUTION NO.
A RESOLUTION:
2005-149
PRESENTED: September 27, 2005
ADOPTED: September 27, 2005
AUTHORIZING AN AGREEMENT AND APPROVING A PERFORMANCE
GUARANTEE AND WATER AND SEWER EXTENSION PERMITS FOR
SOUTH KING STREET CENTER
King Street Center.
PASSED this 27m day of September 2005.
ATTEST:
J~rk of Council
Mayor \
Town of Leesburg
R0 5: SouthKingSlreetCenterNewBond
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virgima 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 Engineering and Public Works for South
King Street Center.
SECTION II. The extension of municipal water and sewer for South King Street Center is
approved in accordance with Sections 15-9 and 19-18 of the Town Code.
SECTION III. The letter of credit in a form approved by the Town Attorney from Virginia
Commerce Bank in the amount of $246,728.00 is approved as security to guarantee installation of the
public improvements shown on plans approved by the Director of Engineering and Public Works for South
Center.
WHEREAS, Barrett Company No. 26, L.C., the developer of South King Street Center, has
requested approval of a letter of credit from the Virginia Commerce Bank in the amount of $246,728.00 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 South King Street