HomeMy Public PortalAbout2009_06_23_R073 - Accepting Public Improvements - TD Bank
The Town of
Leesburg,
Virginia
PRESENTED:June 23. 2009
RESOLUTION NO. 2009-073
ADOPTED: June 23. 2009
A RESOLUTION: ACCEPTING THE PUBLIC IMPROVEMENTS, RELEASING THE
PERFORMANCE GUARANTEE, AND APPROVING A MAINTENANCE
GUARANTEE FOR TD BANK (FORMERLY KNOWN AS COMMERCE
BANK)
WHEREAS, TD BANK (formerly known as Commerce Bank), the developer of TD Bank
(formerly known as Commerce Bank) has completed the public improvements in accordance with
approved plans and Town standards and these have been inspected and approved; and
WHEREAS, the Director of Public Works recommends accepting the public improvements
and approving a maintenance guarantee for TD Bank (formerly known as Commerce Bank).
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
SECTION I. The cash bond in the current amount of $285,900 is released, and acceptance of
a cash bond from TD Bank (formerly known as Commerce Bank) for a maintenance guarantee in the
amount of $14,295.00 is approved, and shall be in effect for a period of one year from this date.
SECTION II. This release is contingent upon delivery of a properly executed instrument
conveying unto the Town all such improvements and easements free of any liens or charges.
PASSED this 23rd day of June, 2009.
n . Umstattd, Mayor
Town of Leesburg