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The Town of
Leesburg,
Virginia
PRESENTED: November 14.2007
RESOLUTION NO.
2007-160
ADOPTED: November 14.2007
ARESOLUTION:
AUTHORIZING AN AGREEMENT AND APPROVING A PERFORMANCE
GUARANTEE AND WA TER AND SEWER EXTENSION PERMITS FOR
RUSSELL BRANCH PARKWAY EAST
WHEREAS, Springfield East LC., the developer of RusseIl Branch Parkway East, has requested
approval of a corporate surety bond from Lexon Insurance Company in the amount of $5,278,000 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 RusseIl Branch
Parkway East.
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
Russell Branch Parkway East.
SECTION II. The extension of municipal water and sewer for RusseIl Branch Parkway East is
approved in accordance with Sections 15-9 and 19-18 of the Town Code.
SECTION III. A corporate surety bond from Lexon Insurance Company in the amount of
$5,278,000 is approved as security to guarantee installation of the public improvements shown on plans
approved by the Director of Engineering and Public Works for RusseIl Branch Parkway East.
PASSED this 14th day of November 2007.
ATTEST:
~ditIt. LIJ, ti. i,uþ-
C rk of CouncIl
R07: RussellBranchPkwyEastNewBond