HomeMy Public PortalAbout2007_06_12_r091
The Town of
Leesburg,
Virginia
PRESENTED: June 12. 2007
RESOLUTION NO. 2007-91
ADOPTED:
June 12.2007
A RESOLUTION:
ACCEPTING THE PUBLIC IMPROVEMENTS, RELEASING THE
PERFORMANCE GUARANTEE, AND APPROVING A MAINTENANCE
GUARANTEE FOR FIRST CITIZENS BANK
WHEREAS, First Citizens Bank, the developer of First Citizens Bank 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 First Citizens Bank.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
SECTION I. The corporate surety bond from the St. Paul Fire and Marine Insurance Company
in the amount of $89,000.00 is released, and a new security in a form approved by the Town Attorney for
a maintenance guarantee in the amount of $4,450.00 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 12th day of June 2007.
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Kristen C. stattd, Mayor
Town of Leesburg
ATTEST:
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rk of CouncIl
R07:FirstCitizensBank PerfRel