HomeMy Public PortalAbout2006_04_11_r064
The Town of
Leesburg,
Virginia
PRESENTED: April 1 L 2006
RESOLUTION NO. 2006-64
ADOPTED: April 1 L 2006
A RESOLUTION:
RESCINDING RESOLUTION #2005-48 AND AUTHORIZING AN
AGREEMENT AND APPROVING A PERFORMANCE GUARANTEE
AND A WATER AND SEWER EXTENSION PERMIT FOR
CATOCTIN CIRCLE CENTER FROM ARCADIA DEVELOPMENT
COMPANY
WHEREAS, Council Resolution #2005-48 approved a corporate surety bond from the
Developers Surety and Indemnity Company in the amount of $692,882.00 as security to
guarantee installation of public improvements by Catoctin Circle Center, LLC, as shown on
plans approved by the Director of Engineering and Public Works for Catoctin Circle Center; and
WHEREAS, a signed contract for public improvements and corporate surety bond were
not provided by Catoctin Circle Center, LLC; and
WHEREAS, Arcadia Development Company, the new owner of Catoctin Circle Center,
has requested approval of a corporate surety bond from the Liberty Mutual Insurance Company
in the amount of $692,882.00 to guarantee the public improvements; and
WHEREAS, the Director of Engineering and Public Works recommends approval of a
contract and acceptance of the corporate surety bond from the Liberty Mutual Insurance
Company for Catoctin Circle Center.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as
follows:
SECTION I. Resolution #2005-48 is hereby rescinded.
-2-
A RESOLUTION:
RESCINDING RESOLUTION #2005-48 AND AUTHORIZING AN
AGREEMENT AND APPROVING A PERFORMANCE GUARANTEE
AND A WATER AND SEWER EXTENSION PERMIT FOR
CATOCTIN CIRCLE CENTER FROM ARCADIA DEVELOPMENT
COMPANY
SECTION II. The Town Manager shall execute the contract for public improvements
with Arcadia Development Company, for the improvements shown on plans approved by the
Director of Engineering and Public Works for Catoctin Circle Center.
SECTION ill. The extension of municipal water and sewer for Catoctin Circle Center is
approved in accordance with Sections 15-9 and 19-18 of the Town Code.
SECTION IV. The corporate surety bond from the Liberty Mutual Insurance Company
provided by Arcadia Development Company in the amount of $692,882.00 in a form approved
by the Town Attorney is approved as security to guarantee installation of the public
improvements shown on plans approved by the Director of Engineering and Public Works for
Catoctin Circle Center.
PASSED this 11th day of April 2006.
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.. IS c. U itattd, Mayor - . .
Town of Lees burg
R06:CatCirCtrRepIContBondRescRes05-48