HomeMy Public PortalAbout2006_03_14_r041
The Town of
Leesburg,
Virginia
PRESENTED: March 14. 2006
RESOLUTION NO.
2006-41
ADOPTED: March 14.2006
A RESOLUTION:
AUTHORIZING AN AGREEMENT AND APPROVING A PERFORMANCE
GUARANTEE AND WATER AND SEWER EXTENSION PERMITS FOR
BANYAN COVE
WHEREAS, duPont Properties, Inc., and K. Hovnanian Homes, the developers of Banyan Cove,
have requested approval of a corporate surety bond from the Berkley Regional Insurance Company in the
amount of $165,749.27 to guarantee the public improvements; and
WHEREAS, the Director of Engineering and Public Works recommends approval ofa contract for
installation of public improvements and acceptance of a performance guarantee for Banyan Cove.
THEREFORE, RESOLVED by the Council of the Town of Lees burg 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 Director of Engineering and Public Works for Banyan
Cove.
SECTION II. The extension of municipal water and sewer for Banyan Cove is approved in
accordance with Sections 15-9 and 19-18 of the Town Code.
SECTION III. The corporate surety bond in a form approved by the Town Attorney from the
Berkley Regional Insurance Company in the amount of $165,749.27 is approved as security to guarantee
installation of the public improvements shown on plans approved by the Director of Engineering and Public
Works for Banyan Cove.
PASSED this 14th day of March 2006.
ATTEST:
~M JJ. aiaa
erk of Councll
R06:BanyanCove NewBond