HomeMy Public PortalAbout2015_02_24_R031 Perf Guar and W and S Permits for Russell Branch Pkwy Ext The Town of
Leesburg,
Virginia
PRESENTED: February 24,2015
RESOLUTION NO. 2015-031 ADOPTED: February 24, 2015
A RESOLUTION: AUTHORIZING AN AGREEMENT AND APPROVING A PERFORMANCE
GUARANTEE AND WATER AND SEWER EXTENSION PERMITS FOR
RUSSELL BRANCH PARKWAY EXTENSION(TLPF-2014-0007)
WHEREAS,Lowe's,the developer of Russell Branch Parkway Extension has requested
approval of a Corporate Surety Bond from Travelers Casualty and Surety Company of America in the
amount of$6,640,000 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 Russell Branch Parkway
Extension.
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 Russell Branch
Parkway Extension.
SECTION II. A Corporate Surety Bond from Travelers Casualty and Surety Company of
America in the amount of$6,640,000 is approved as security to guarantee installation of the public
improvements shown on plans to be approved by the Director of Plan Review for Russell Branch
Parkway Extension.
SECTION III. The extension of municipal water and sewer for Russell Branch Parkway
Extension is approved in accordance with Section 34-25 and Section 34-123 of the Town Code.
PASSED this 24th day of February,2015.
Imo_
Kristen C. mstattd, 7 ayor
10 Town of Leesburg
Clerk of Co
P:\Resolutions\2015\i 4 Perf Guar and WS Extension Permits for Lowes Infrastructure Plans.doc