HomeMy Public PortalAbout2008_04_08_R055 Perf Guar Oaklawn at Stratford Landbay D
The Town of
Leesburg,
Virginia
PRESENTED: April 8, 2008
RESOLUTION NO.
2008-55
ADOPTED: April 8, 2008
A RESOLUTION:
AUTHORIZING AN AGREEMENT AND APPROVING A PERFORMANCE
GUARANTEE AND WATER AND SEWER EXTENSION PERMITS FOR
OAKLA WN AT STRATFORD - LANDBA Y D
WHEREAS, Oaklawn Development Partners, LLC, the developer of Oaklawn at Stratford -
Landbay D, has requested approval of a letter of credit from the Wachovia Bank in the amount of
$941,000 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 at
Stratford - Landbay D.
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 at Stratford - Landbay D.
SECTION II. The extension of municipal water and sewer for Oaklawn at Stratford Landbay D
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 $941 ,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 at Stratford - Landbay D.
PASSED this 8th day of April 2008.
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