HomeMy Public PortalAbout2006_02_14_r023The Town of
Leesburg,
Virginia
RESOLUTION NO.
A RESOLUTION:
2006-23
PRESENTED February 14, 2006
ADOPTED February_ 14, 2006
AUTHORIZING AN AGREEMENT AND APPROVING A PERFORMANCE
GUARANTEE AND A WATER EXTENSION PERMIT FOR LEESBURG
COMMERCE CENTER
Commerce Center.
PASSED this 14m day of February 2006.
ATFEST:
erk of Council
R06:LeesburgCommeree Center NewBond
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
SECTION I. The Town Manager shall execute the contract for public improvements for the
improvements shown on the plans approved by the Dircetor of Engineering and Public Works for Leesburg
Commerce Center.
SECTION II. The extension of municipal water for Leesburg Commerce Center is approved in
accordance with Sections 19-18 of the Town Code.
SECTION III. The letter of credit in a form approved by the Town Attorney from the Cardinal
Bank in the amount of $109,216.53 is approved as security to guarantee installation of the public
improvements shown on plans approved by the Director of Engineering and Public Works for Leesburg
Center.
WHEREAS, Leesburg Commerce Center, LLC, the developer of Leesburg Commerce Center, has
requested approval of a letter of credit from the Cardinal Bank in the amount of $109,216.53 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 Leesburg Commerce