HomeMy WebLinkAboutOrd 2138 02/04/1969
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ORDINANCE NO. 2138
AN ORDINANCE AMENDING AN ORDINANCE REGULATING PUBLIC IMPROVEIvJENTS BY
PREVIOUS CONTRACT, PROVIDING FOR PAYMENT THEREOF AND ESTABLISHING FEES:
ORDINANCE NO. 302, AS Ar-'lENDED
WHEREAS, 'the Plan Conmission of the Village of rlJount
Prospect did hold a regular meeting November 15, 1968, in the Village
Hall, and did consider subject matter under Case #68-49P pursuant to
proper legal notice; and
WHEREAS, the Plan Commission have reconmended to the President
and Board of Trustees of the Village of IVIount Prospect to adopt the
proposed amendment contained in Case 68-49P; and
WHEREAS, the Judiciary Committee of the Board of Trustees
of M01.mt Prospect did meet January 9, 1969, and did review and reconmend
that the President and Board of Trusrees of the Village of Mount Prospect
concur with the recommendation of the Plan Commission under Case No. 68-49P:
and
WHEREAS, the President and Board of Trustees of the Village
of f/fount Prospect have considered the recommendations and the subj ect
matter concerning Case 68-49P and have determined that adoption of
the same is for the best interests of the Village of Mount Prospect;
NOW, THEREFORE, BE IT ORDAINED BY THE PRESIDENT AND BOARD
OF TRUSTEES OF THE VILLAGE OF f\10UNT PROSPECT, COOK COUNTY, ILLINOIS:
SECTION ONE: That Section 2 of An Ordinance Regulating
Public Improvements by Private Contract, Providing for Payment Thereof,
and Establishing Fees (Ordinance No. 302, as amended) be and is hereby
amended in its entirety so that the said Section 2 shall hereafter be
and read as follows;
"SECTION 2.
(a) That at the time such application is made for such
permit, the applicant shall deposit a sum of money one hundred and
ten percent (110%) of the cost of constructing the improvements covered
by the said permit, the amount of which cost shall be determined by the
estimate of cost prepared by the Engineer of the Village of Mount Prospect,
or by the cost of improvement as set forth in the contract documents
providing for the improvement, whichever be the lesser.
(b) Such sum shall then be deposited either:
(1) In escrow in a bank designated by the President
and Board of Trustees; or
(2) With the Director of Finance to be placed by him in
a special fund.
(c) The above mentioned deposit shall be returnable to
the applicant at the direction of the Village Board of Trustees. However,
should the said applicant be granted a permit, amounts shall be drawn
from the said deposit and paid to the permittee as work progresses and
and is canpleted in accordance with the terms of the said contract. Upon
completion of all work, the additional 10% deposited by the permittee
at the onset shall be held for a period of two (2) years after completion
of all work in order to guarantee and correct the said work.
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ORDINANCE NO. 2138 (page 2)
(d) The foregping deposit may be excused by the Village
Manager provided the applicant gives guarantee. in the form approved
by the Village Attorney, of a surety bond and to insure the payment of
all public improvements, which bond shall be in an mount equal to the
amount of the entire cost of the improvement as determined by either
method put forth 1.mder paragraph (a) of this Section. The said bond
shall be valid and binding upon the surety for a period of two years
following the completion of the work in accordance with the terms of
the contract between the Village of M01.mt Prospect and the said permittee."
SECTION THREE: That all other ordinances of part s of
ordinances in conflict herewith are hereby repealed.
SECTION FOUR: That this Ordinance shall be in full
force and effect from and after its passage and approval in the manner
provided by law.
AYES: 6
NAYS: 0 /)
PASSED and APPROVED this 4th day of February ,l:,~/,//./'/ 4
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Village Clerk
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