HomeMy Public PortalAbout2007_02_27_r033
The Town of
Leesburg,
Virginia
PRESENTED: February 27.2007
RESOLUTION NO. 2007-33
ADOPTED: February 27. 2007
A RESOLUTION:
ACCEPTING THE PUBLIC IMPROVEMENTS, RELEASING THE
PERFORMANCE GUARANTEE, AND APPROVING A MAINTENANCE
GUARANTEE FOR BATTLEFIELD MARKETPLACE TRAFFIC SIGNAL
INST ALLA TION AND PAVEMENT MARKINGS
WHEREAS, Target Corporation, the developer of the Battlefield Marketplace Traffic Signal
Installation and Pavement Markings 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 a maintenance guarantee for the Battlefield Marketplace Traffic Signal
Installation and Pavement Markings.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
SECTION I. The corporate surety bond from the Fidelity and Deposit Company of Maryland
in the amount of $247,000 is released, and a new security in a form approved by the Town Attorney for a
maintenance guarantee in the amount of $12,350 from the Safeco Insurance Company of America is
approved, and shall be in effect for a period of one year from this date.
SECTION II. This release is 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 27th day of February 2007.
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