HomeMy Public PortalAbout2007_01_23_r010
The Town of
Leesburg,
Virginia
ADOPTED:
January 23.2007
RESOLUTION NO. 2007-10
ADOPTED
January 23. 2007
A RESOLUTION:
APPROVING A SUBSTITUTE PERFORMANCE GUARANTEE FOR THE
DULLES GREENWAY - BATTLEFIELD P ARKW A Y INTERCHANGE
WHEREAS, Council Resolution #2006-201 adopted on November 28, 2006, approved a
corporate surety bond from the Travelers Casualty and Surety of America as security to guarantee
installation of public improvements as shown on plans approved by the Director of Engineering and
Public Works for the Dulles Greenway - Battlefield Parkway Interchange; and
WHEREAS, Shirley Contracting Company, LLC, the developer of Dulles Greenway - Battlefield
Parkway Interchange, has requested to replace the previously approved corporate surety bond from the
Travelers Casualty and Surety Company of America with a corporate surety bond from the Federal
Insurance Company; and the Fidelity and Deposit Company of Maryland in the amount of $2,632,000 and
is requesting approval of the same; and
WHEREAS, the Director of Engineering and Public Works recommends approval of a substitute
performance guarantee from the Federal Insurance Company; and the Fidelity and Deposit Company of
Maryland in the amount of $2,632,000.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
SECTION I. The substitute corporate surety bond from the Federal Insurance Company; and
the Fidelity and Deposit Company of Maryland in the amount of $2,632,000 is approved as security to
guarantee installation of the public improvements shown on plans approved by the Director of
Engineering & Public Works.
PASSED this 23rd day of January 2007.
ATTEST:
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