HomeMy Public PortalAbout2009_05_27_R057 - Perf. Guar. Paxton Center
The Town of
Leesburg,
Virginia
PRESENTED: May 27,2009
RESOLUTION NO. 2009-057
ADOPTED:
May 27, 2009
A RESOLUTION:
AUTHORIZING AN AGREEMENT AND APPROVING A PERFORMANCE
GUARANTEE AND WATER EXTENSION PERMIT FOR THE PAXTON
MEMORIAL LEARNING & RESOURCE CAMPUS
WHEREAS, The Margaret A. Paxton Memorial for Convalescent Children, the developer of the
Paxton Memorial Learning & Resource Campus, has requested approval of an irrevocable letter of credit
from PNC Bank in the amount of $372,000 to guarantee the public improvements; and
WHEREAS, the Director of Public Works recommends approval ofa contract for installation of
public improvements and acceptance of a performance guarantee for the Paxton Memorial Learning &
Resource Campus.
THEREFORE, RESOLVED by the Council of the Town of Lees burg in Virginia as follows:
SECTION I. The Town Manager shall execute the contract for public improvements for the
improvements shown on the plans to be approved by the Director of Plan Review for the Paxton Memorial
Learning & Resource Campus.
SECTION II. The extension of municipal water for the Paxton Memorial Learning & Resource
Campus is approved in accordance with Section 19-18 of the Town Code
SECTION III. An irrevocable letter of credit from PNC Bank in the amount of $372,000 is
approved as security to guarantee installation of the public improvements shown on plans to be approved by
the Director of Plan Review for the Paxton Memorial Learning & Resource Campus.
PASSED this 27th day of May, 2009.
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. . Umstattd, Mayor
Town of Leesburg