G-900 - 10/27/2009 - BOND - Ordinances Supporting Documentssue,
AGENDA ITEM
Regular Board of Trustees Meeting
of
October 27, 2009
SUBJECT: Outstanding Permit Bonds
FROM: David Niemeyer; Village Manager
BUDGET SOURCE /BUDGET IMPACT: Revenue
I'1'13M 6X.1)
DD
RECOMMENDED MOTION: I move that the Village Board approve Ordinance 2009 -
BND -G -900, an Ordinance Providing for the Transfer of Permit Bonds to the Village of
Oak Brook's General Fund, UNRESTRICTED FUND BALANCE.
Background /History:
At the September 22, 2009 Village Board meeting, staff proposed an ordinance that would allow the
Village to determine whether various cash bonds posted for permits should be returned to the
applicant or transferred to the Village of Oak Brook General Fund unrestricted fund balances.
Over the years, the account into which these bonds have been placed has reached $1,250,770 as of
9/15/09.
This ordinance authorizes staff to transfer the bonds to the Village's general fund unrestricted fund
balance in the event a permit bond is not claimed more than 36 months after the bond is posted.
Recommendation:
That the Village Board approves Ordinance G -900, an Ordinance Providing for the Transfer of
Permit bonds to the Village of Oak Brook's General Fund, Unrestricted Fund Balance.
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Last saved by DEFAULT J \Agenda Items \AG - Outstanding Permit Bonds 10 -27 -09 doc
Last panted 10/23/2009 2 46 PM
ORDINANCE 2009 -BND -G -900
AN ORDINANCE PROVIDING FOR THE TRANSFER
OF PERMIT BONDS TO THE VILLAGE'S GENERAL FUND
UNRESTRICTED FUND BALANCE
WHEREAS, numerous cash bonds have been posted with the Village to guarantee the
completion of public and private improvements; and
WHEREAS, many of the bonds are unredeemed, and
WHEREAS, the President and Board of Trustees have determined that it would be appropriate for
the Village to endeavor to return the bonds to the individuals who posted the bonds and in the event that
the individual cannot be located to transfer the bonds to the Village's General Fund unrestricted fund
balance for use by the Village.
NOW, THEREFORE, BE IT ORDAINED BY THE PRESIDENT AND BOARD OF TRUSTEES OF
THE VILLAGE OF OAK BROOK, DU PAGE AND COOK COUNTIES, ILLINOIS, as follows:
Section 1. The foregoing preambles are restated and incorporated herein by reference as though
fully set forth herein
Section 2* Subject to the conditions of this ordinance any bond posted with the Village in
connection with the issuance of a building permit or the installation of any street, sewer, water main,
sidewalk or other public improvement, which has not been claimed by the individual posting the bond for
more than 36 months since the date that the bond was posted, shall be used to reduce the liability and
increase the unrestricted fund balance in the Village's General Fund.
Section 3: Prior to the use of any bond in accordance with Section 1 the Village shall send to the
individual who posted the bond, a notice informing the individual that the Village is transferring the bond,
unless within 21 days of the date of the notice, the individual requests a hearing with the Director of
Community Development or the Director's designee to explain why the bond should be returned to the
individual or maintained by the Village because the work that is the subject of the bond is still in progress.
The nonce shall be sent by certified mail return receipt requested and regular mail to the last known
address of the individual who posted the bond.
Section 4: Any person who disagrees with the determination of the Director may, within 21 days
of the date of the determination, appeal to the Village Manager or his designee.
Section 5: If any section, paragraph, clause or provision of this ordinance shall be held invalid,
the invalidity thereof shall not affect any of the other provisions of this ordinance.
Section 6- All ordinances or parts thereof in conflict with the provisions of this ordinance are
hereby repealed to the extent of such conflict.
Section 7: This ordinance shall be in full force and effect from and after its passage, approval
and publication as required by law.
APPROVED THIS 271h day of October, 2009.
John W. Craig
Village President
Ayes:
Nays:
Absent
PASSED THIS 27th day of October, 2009.
ATTEST:
Charlotte K. Pruss
Village Clerk
Ordinance 2009 -BND -G -900
Transfer of Permit Bonds to Gen Fund
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