HomeMy Public PortalAbout2007_03_27_r048
The Town of
Leesburg,
Virginia
PRESENTED: March 27. 2007
RESOLUTION NO. 2007-48
ADOPTED: March 27,2007
A RESOLUTION:
ACCEPTING THE PUBLIC IMPROVEMENTS, RELEASING THE
PERFORMANCE GUARANTEE, AND APPROVING A MAINTENANCE
GUARANTEE FOR SPRING LAKES PHASE II
WHEREAS, Spring Lakes, LLC, the developer of Spring Lakes Phase II has completed the
public improvements in accordance with approved plans and Town standards and these have been
inspected and approved; and
WHEREAS, this development is located in Loudoun County and the Town's bonded
improvements are water and sanitary sewer only; and
WHEREAS, the Director of Engineering and Public Works recommends accepting the public
improvements and approving a maintenance guarantee for Spring Lakes Phase II.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
SECTION I. The corporate surety bond from the Travelers Casualty and Surety Company of
America in the amount of $473,800 is released, and a new security in a form approved by the Town
Attorney for a maintenance guarantee in the amount of $23,690 from the Travelers Casualty and Surety
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 March 2007.
ATTEST:
i a7fAd:
k of Council
R07:SpringLakesPhsII PertRel