HomeMy Public PortalAbout2013_06_11_R068 Perf. Guarantees for PMW Farms Sanitary Sewer Extension The Town of
Leesburg,
Virginia
PRESENTED: June 11, 2013
RESOLUTION NO. 2013-068 ADOPTED: June 11, 2013
A RESOLUTION: ACCEPTING THE PUBLIC IMPROVEMENTS, RELEASING THE
PERFORMANCE GUARANTEE AND APPROVING A MAINTENANCE
GUARANTEE FOR PMW FARMS SANITARY SEWER EXTENSION
(TLPF-2006-0011)
WHEREAS, GTIS-HOV Festival Lakes, LLC,the developer of PMW Farms Sanitary Sewer
Extension 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 PMW Farms Sanitary Sewer Extension.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
SECTION I. The corporate surety bond in the current amount of$327,000 from Lexon
Insurance Company is released and acceptance of a corporate surety bond from Lexon Insurance
Company for a maintenance guarantee in the amount of$16,350 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 11th day of June, 2013.
cN11--,,,
Kriste C. U stattd, Mayor
Town of Leesburg
ATTFT:r
1 i 1 r)
\,IAI I ' /
Clerk of Council']
P:\Resolutions\2013\0611 PMW Farms Sanitary Sewer Extension-Rel PB Acpt MB.doc