HomeMy Public PortalAbout2010_11_30_R147 Perf Guar for Valley View SubdivisionThe Town of
Leesburg,
Virginia
PRESENTED:
RESOLUTION NO. 2010 -147 ADOPTED:
A RESOLUTION: AUTHORIZING AN AGREEMENT AND APPROVING A PERFORMANCE
GUARANTEE AND WATER AND SEWER EXTENSION PERMITS FOR
VALLEY VIEW SUBDIVISION
WHEREAS, Batu Homes, Inc., the developer of Valley View Subdivision has requested
approval of a letter of credit from United Bank in the amount of $1,246,000 to guarantee the public
improvements; and
WHEREAS, the Director of Public Works recommends approval of a contract for installation
of public improvements and acceptance of a performance guarantee for Valley View Subdivision.
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 to be approved by the Director of Plan Review for Valley View
Subdivision.
SECTION II. A letter of credit from United Bank in the amount of $1,246,000 is approved as
security to guarantee installation of the public improvements shown on plans to be approved by the
Director of Plan Review for Valley View Subdivision.
SECTION III. The extension of municipal water and sewer for Valley View Subdivision is
approved in accordance with Section 34 -123 and Section 35 -25 of the Town Code.
PASSED this 30 day of November, 2010.
AT sp
Clerk of Co
P: \Resolutions\Resolutions 2010 \1130 Valley View Subdivision -New P Bond.doc
Town of Leesburg
November 30, 2010
November 30, 2010
C. Umstattd, Mayor