HomeMy Public PortalAbout2006_02_28_r031
The Town of
Leesburg,
Virginia
PRESENTED February 28. 2006
RESOLUTION NO.
2006-31
ADOPTED
February 28. 2006
A RESOLUTION:
ACCEPTING PUBLIC IMPROVEMENTS, RELEASING THE PERFORMANCE
GUARANTEES AND APPROVING MAINTENANCE GUARANTEES FOR
PUBLIC IMPROVEMENTS AT POTOMAC CROSSING SECTION 2E AND 4
WHEREAS, Arcadia Development Company, the developer of Potomac Crossing Sections 2E and 4
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 maintenance guarantees for Potomac Crossing Sections 2E and 4.
THEREFORE, RESOLVED by the Council of the Town of Lees burg in Virginia as follows:
SECTION I. The corporate surety bonds from the Lumbermens Mutual Casualty Company in the
amount of $204,744.00 for Section 2E; and from The American Insurance Company in the amount of
$120,000.00 for Section 4 are released, and new securities in a form approved by the Town Attorney for a
maintenance guarantee in the amount of $10,237.20 from the Arch Insurance Company for Section 2E; and
in the amount of $4,698.55 from the Liberty Mutual Insurance Company for Section 4 are approved, and
shall be in effect for a period of one year from this date.
SECTION II. These releases are 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 28th day of February 2006.
~t': C~~
. C. Umstattd, Mayor
Town of Leesburg
ATTEST:
R06:PotCrs2Eand4 PerlRe\s