HomeMy Public PortalAbout2007_03_13_r041
The Town of
Leesburg,
Virginia
PRESENTED: March 13. 2007
RESOLUTION NO. 2007-41
ADOPTED: March 13. 2007
A RESOLUTION:
ACCEPTING THE PUBLIC IMPROVEMENTS, RELEASING THE
PERFORMANCE GUARANTEES, AND APPROVING MAINTENANCE
GUARANTEES FOR POTOMAC CROSSING SECTIONS 8 AND 9
WHEREAS, Arcadia Development Company, the developer of Potomac Crossing Sections 8 and
9 have 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 8 and 9.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
SECTION I. The corporate surety bonds from the Lumbermens Mutual Casualty Company in
the amount of $189,673.94 for Section 8; and in the amount of $115,546.77 for Section 9 are released,
and new securities in a form approved by the Town Attorney for a maintenance guarantee in the amount
of $57,900.95 for Section 8 from the Arch Insurance Company; and in the amount of $32,638.29 for
Section 9 from the Liberty Mutual Insurance Company are 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 13th day of March 2007.
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K . . Umtattd, Mayor r
Town of Leesburg
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R07:Potomae Crossing See 8-9 PertRel