G-366 - 10/08/1985 - BOND - Ordinances ORDINANCE NO. G- 366
AN ORDINANCE AMENDING SECTION 10-55(e) OF THE
CODE OF ORDINANCES OF THE VILLAGE OF OAK BROOK, ILLINOIS
RELATIVE TO BOND REQUIREMENTS FOR LAND MODIFICATIONS
WHEREAS, the President and Board of Trustees of the Village of Oak
Brook, Illinois have heretofore adopted Section 10-55(e) of the Code of
Ordinances of said Village, which Section sets forth certain bond requirements
for land modifications; and
WHEREAS, a cash performance bond is preferable for land modifications
required in construction of single family dwellings, due to the greater ease in
administering the cash bond for the large number of single family construction
projects in the Village; and
WHEREAS, the President and Board of Trustees of the said Village deem a
revision of such bond requirements to be *in the best interest and in pursuance of
the general welfare of the Village;
I
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:
t
Section11: That Section 10-55(e) of the Code of Ordinances of the
Village of Oak Brook, Illinois be and is hereby amended to read as follows:
(e) Performance Bonds. Except in the case of land
modifications resulting from construction of single family
dwelling(s) , the applicant shall be required. to file with the
Village a commercial performance bond or bonds, letter of
credit, or other security satisfactory to the Village Attorney
to cover all costs of improvements, landscaping, maintenance
of improvements and landscaping for such period as specified
by the Village, and to cover the cost of failure or repair of
improvements installed on the site pursuant to a land
modification permit. The amount of such bond shall be equal
to one hundred (100) per cent of the estimated cost of the
land modification for which a permit is issued, provided that
where the estimated cost of such work is less than five
hundred dollars ($500.00) no bond shall be required. Such
bond shall be in addition to and not in lieu of any other bond
required under the Ordinances of the Village.
In the case of land modifications resulting from the
construction of single family dwellings, the applicant shall
file a two thousand dollar ($2,000.00) cash performance bond
with the Village for the purposes listed above.
Any performance bond or bonds, letter of credit or other
security acceptable to the Village filed pursuant to this
subsection shall be subject to forfeiture by the Village upon
default by the permittee in any material aspect of said
permit. Such forfeiture shall be in addition and not in
derogation of any other rights of the Village. The Village
may use the performance bond, letter of credit or other
security to complete the work in accordance with the permit
application and/or building permit documents as approved by
the Village in the event that the permittee fails to complete
said work upon fifteen (15) days notice to do so.
Upon final approval of the land modification portion of a
building permit for a habitable structure or in other cases,
upon a final inspection evidencing that all land modifications
have been satisfactorily completed, the Village shall return
any unused portion of a cash performance bond to the
applicant.
Ordinance No. G-__166
Amending Section 10-55(e)
of the Code of Ordinances
Relative to Bond Requirements
for Land Modifications
Page two
Section 2: All ordinances, rules and regulations of the Village of Oak
Brook which are in conflict with the provisions of this Ordinance are hereby
repealed to the extent of such conflict.
Section 3: If any section, sub-section, sentence, clause or phrase of
this Ordinance is for any reason held to be invalid, such determination shall not
affect the validity of any remaining portion of this Ordinance.
Section 4: This Ordinance shall be in full force and effect from and
after its passage, approval and publication in pamphlet form as provided by law.
Section 5: The Village Clerk is hereby authorized and directed to
publish this Ordinance in pamphlet form as required by law.
PASSED this 8th day of October , 1985.
Ayes:
Nays: NQng
Absent: Trustee Rush
APPROVED this 8th day of October , 1985.
1 ,
' r Vi age President
1 ATTEST; _, {
l 11�) j
Villa e Clerk
Approved as to Form:
Village Attorney
Published 10-9-85 Pamphlet Form
Date Paper
Not Published