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The Town of
Leesburg,
Virginia
PRESENTED: September 25. 2007
RESOLUTION NO. 2007-130
ADOPTED: September 25. 2007
A RESOLUTION:
ACCEPTING THE PUBLIC IMPROVEMENTS, RELEASING THE
PERFORMANCE GUARANTEES, AND APPROVING MAINTENANCE
GUARANTEES FOR STOWERS, SECTION 1; AND PHASE 1, SECTION 2
WHEREAS, , the developer of Stowers, Section 1; and Phase 1, Section 2 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 Stowers, Section 1; and Phase 1, Section 2.
THEREFORE, RESOLVED by the Council of the Town of Lees burg in Virginia as follows:
SECTION I. The corporate surety bond from the St. Paul Fire and Marine Insurance Company
in the amount of $337,588 for Section 1; and from the American Home Assurance Company in the
amount of $211,508 for Phase 1, Section 2 are released, and new securities in a form approved by the
Town Attorney for a maintenance guarantee in the amount of $97,000 from the Travelers Casualty and
Surety Company of America for Section 1; and in the amount of $105,753.80 from the National Union
Fire Insurance Company of Pittsburgh, PA for Phase 1, Section 2 are approved, and shall be in effect for a
period of one year from this date.
SECTION II. These releases are 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 25th day of September 2007.
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R07 :StowersSec 1 ,Phs 1 Sec2 PertRels