HomeMy Public PortalAbout2008_02_12_R027
The Town of
Leesburg,
Virginia
PrSENTED:Februarv 12,2008
RESOLUTION NO. 2008-27 1DOPTED: February 12,2008
A RESOLUTION: CANCELLING THE CONTRACT OR PUBLIC IMPROVEMENTS
AND RELEASING THE PERFO ANCE GUARANTEE FOR THE
RT. 7/RIVER CREEK PARKW Y INTERCHANGE INTERIM
GRADING AND UTILITY PLAN
WHEREAS, Town Council Resolution #2007-173 adopted on December 11, 2007
approved a reduction of the performance guarantee amount d approved substitute performance
guarantees from the Lexon Insurance Company in the r vised amount of $21,768,000 for
completion of the Interchange at the Intersection of East M rket Street (Route 7); River Creek
Parkway; and Crosstail Boulevard; and
WHEREAS, these bonds were received and guaran ee the completion of the Route 7
River Creek Parkway and Crosstail Blvd. Interchange; and
WHEREAS, the Route 7/River Creek Parkway Inter hange Interim Grading and Utility
Plan Bond and Performance Contract were approved b the adoption of Town Council
Resolution #2007-116 on August 14, 2007, and have now een replaced with the Performance
WHEREAS, the Director of Engineering and Public orks recommends cancellation of
Contract and Bonds for the full Interchange Plan; and
the contract for public improvements and release of the corp rate surety bond from the Berkley
Regional Insurance Company in the amount of$4,169,000.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as
follows:
-2-
A RESOLUTION:
CANCELLING THE CONTRACT FO
RELEASING THE PERFORMANCE G
CREEK PARKWAY INTERCHANGE
PLAN
PUBLIC IMPROVEMENTS AND
ARANTEE FOR THE RT. 7/RNER
TERIM GRADING AND UTILITY
SECTION I. The contract for public improvements ith Springfield East, L.C., for the
improvements shown on plans approved by the Director of E gineering and Public Works for the
Rt. 7/River Creek Parkway Interchange Interim Grading and tility Plan is hereby cancelled.
SECTION II. The corporate surety bond from the Be kley Regional Insurance Company
in the amount of$4,169,000 provided by Springfield East, L. . as security to guarantee the
installation of the public improvements shown on plans appr ved by the Director of Engineering
and Public Works for Rt. 7/River Creek Parkway Interchange Interim Grading and Utility Plan is
hereby released.
PASSED this Ith day of February 2008.
en . Umstattd,Mayor
T wn of Leesburg
A
Clerk of CounSil
..J