HomeMy Public PortalAbout2007_11_14_r159
The Town of
Leesburg,
Virginia
PRESENTED: November 14, 2007
RESOLUTION NO. 2007-159
ADOPTED: November 14.2007
ARESOLUTION :
AUTHORIZING AN AGREEMENT AND APPROVING A PERFORMANCE
GUARANTEE AND WA TER AND SEWER EXTENSION PERMITS FOR
OAKLA WN @ STRA TFORD MUC-5
WHEREAS, Oaklawn Development Partners, LLC, the developer of Oaklawn @ Stratford
MUC-5, has requested approval of a letter of credit from Wachovia Bank in the amount of $327,000 to
guarantee the public improvements; and
WHEREAS, the Director of Engineering and Public Works recommends approval of a contract
for installation of public improvements and acceptance of a performance guarantee for Oaklawn @
Stratford MUC-5.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
SECTION I. The Town Manager shall execute the contract for public improvements for the
improvements shown on the plans approved by the Director of Engineering and Public Works for
Oaklawn @ Stratford MUC-5.
SECTION II. The extension ofmunicipal water and sewer for Oaklawn @ Stratford MUC-5
is approved in accordance with Sections 15-9 and 19-18 of the Town Code.
SECTION III. A letter of credit from Wachovia Bank in the amount of $327,000 is approved as
security to guarantee installation of the public improvements shown on plans approved by the Director of
Engineering and Public Works for Oaklawn @ Stratford MUC-5.
PASSED this 14th day of November 2007.
M.~:~
ATTEST:
~ w. aU
erk of CouncIl
Town ofLeesburg
R07: Oaklawn@StratfordMUC5NewBond