HomeMy WebLinkAboutOrdinances - MC-88-468 - 11/30/1988 - SCO Construction Guarantee; reduction or release oORDINANCE NO. MC-88-468
AN ORDINANCE
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
McHENRY, MCHENRY COUNTY, ILLINOIS, AS FOLLOWS:
SECTION 1. Section VE3 and Section VE4 of the
Subdivision Control Ordinance be and the same are hereby
amended to read as follows:
"3. Construction Guarantee. The construction
guarantee required in paragraph 2 of this Subsection E
shall assure the City of the satisfactory installation
of the required subdivision improvements within two
years after the date that the final plat is approved in
accordance with the approved plans and specifications
and according to good engineering and construction
practices. Such construction guarantee shall be for an
initial term of two years and shall be secured either
by cash, an irrevocable letter of credit issued by a
federally insured bank or savings and loan association,
a certificate of deposit with, or an escrow account at,
a federally insured bank or savings and loan
association or a surety bond by a good and sufficient
surety company, with the form of any tendered
construction guarantee being subject to the approval of
the Mayor and City Council.
Where the required improvements have not been
installed either within the time required or in
accordance with the approved plans and specifications,
the City may draw the guarantee amount for use in
matters relating to insuring the satisfactory
construction of said improvements, including attorney's
fees, engineering and consulting fees and court costs,
if any, incurred in connection with the enforcement of
the provisions of this Ordinance.
4. Reduction or Release of Construction Guarantee.
The amount of the construction guarantee posted by the
subdivider shall not be reduced on account of the
completion of any portion of the public improvements,
it being the specific intent hereof that the entire
125% of the cost of the required subdivision
improvement shall be held by the City until all of such
improvements have been completed and approved by the
City. Thereupon, a construction guarantee may be
released by the Mayor and City Council upon the
subdivider's prior compliance with each of the
following requirements:
a. A written application shall be made by the
subdivider to the Mayor and City Council for the
release of the construction guarantee.
b. The aforesaid written application shall be
supported by the project engineer's certificate
that he has regularly inspected the improvements
made during the progress of the construction and
that the improvements have been constructed and
installed in conformance with the approved plans
and specifications and in accordance with good
engineering and construction practice.
C. The subdivider shall provide the City with the
"As -Built" Plans described in Section VIII-D(3) of
this Ordinance.
d. The subdivider shall provide the City with the
"guarantee bond" described in Section VIII-C of
this Ordinance."
SECTION 2. Any person, firm or corporation violating
any provision of this ordinance shall be fined not less than
Twenty Five Dollars ($25.00) nor more than Five Hundred
Dollars ($500.00) for each offense committed on each day
during, or on which, a violation occurs or continues.
SECTION 3. All ordinances, or parts thereof, in
conflict with the terms and provisions hereof, be and the
same are hereby repealed to the extent of such conflict.
SECTION 4. This ordinance shall be published in
pamphlet form by and under the authority of the corporate
authorities of the City of McHenry, Illinois.
SECTION 5. This ordinance shall be in full force and
effect from and after its passage, approval and publication
in pamphlet form, as provided by law.
PASSED this 30th day of November , 1988.
AYES: Bolger, Lieder, McClatchey, Nolan, Patterson, Serritella, Smith, Teta
NAYS: None
ABSTAINED: None
ABSENT: None
NOT VOTING: None
APPROVED this 30th -day of November
ATTEST:
CITY CLERK
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