HomeMy Public PortalAbout2005_11_08_r171The Town of
Leesburg,
Virginia
RESOLUTION NO.
A RESOLUTION:
2005-171
PRESENTED: November 8, 2005
ADOPTED: November 8, 2005
MAKING A REDUCTION OF THE PERFORMANCE GUARANTEE
FOR PUBLIC IMPROVEMENTS INSTALLED IN HAWKS VIEW
GLEN
WHEREAS, the Town's Director of Engineering and Public Works has reviewed the
improvements installed to date in Hawks View Glen and certified that the value of work performed is
$217,820.70; and
WHEREAS, a corporate surety bond from the Fidelity and Deposit Company of Maryland in the
amount of $242,023.00 was provided by the developer and approved by the Council to guarantee
installation of public improvements for Hawks View Glen; and
WHEREAS, the Director of Engineering and Public Works recommends reducing the
performance guarantee for public improvements installed in Hawks View Glen.
THEREFORE, RESOLVED by the Council of the Town of Lee sburg in Virginia as follows:
SECTION I. The corporate surety bond from the Fidelity and Deposit Company of Maryland
for Hawks View Glen in the amount of $242,023.00 is reduced to $24,202.30.
SECTION II. The Town Manager shall notify the developers that liability for corporate surety
bond funds has been reduced as outlined in Section I of this resolution and that this reduction does not
constitute acceptance of public improvements by the town or relieve the developer of responsibilities
outlined in the contract for public improvements for Hawks View Glen.
PASSED this 8_~.~ day of November 2005.
C~rk of Council
ga4st~C. Um~ttd, Mayor
Town of Leesburg
R05:HawksViewGlenRed