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ORDI0NCE NO. 525 <br />AN ORDINP14CE AMENDING SECTION 8.009 OF THE MUNICIPAL CODE RELATING TO <br />SUBDIVISION CONTROL REGULATIONS AND PROVIDING FOR MAINTENANCE BONDS <br />NOW, THEREFORE, BE IT ORDAINED by the President and Board of Trustees <br />of the Village of Elk Grove Village, Counties of Cook and DuPage, <br />Illinois: <br />Section 1. That Section 8.009 of the Municipal Code of the Village of <br />Elk Grove Village be amended by adding thereto the following: <br />"No such resolution will be adopted unless the developer deposits with <br />the Village a corporate surety bond whereby a bonding company (with <br />assets exceeding ten million dollars and authorized to do business in <br />the State of Illinois) guarantees street maintenance by the developer <br />during the bond term. Said bond to be in an amount not less than ten <br />thousand dollars and as recommended by the Village Engineer for a term <br />not less than two years with a termination date not in the months of <br />November, December, January, February, March or April, together with <br />an affidavit by the developer that said street will not be used by it, <br />its contractors, or contract purchasers for construction traffic and <br />that it will advise all concerned. <br />"Prior to any maintenance being performed by the developer during the <br />bond period, it shall notify the Village Manager 24 hours prior to the <br />doing of the work and obtain approval of the Village Engineer as to <br />the nature and manner of work done. The Village Engineer, or an <br />arbitrator selected by the Village Engineer, and the bonding company, <br />in the case of disputed approval to the effect that all maintenance <br />work has been properly done, shall be a necessary condition to dis- <br />charging parties under the bond and it shall so provide." <br />Section 2, That this ordinance shall be in full force and effect <br />from and after its passage) approval and publication according to law. <br />PASSED this 26th day of Parch , 1968. <br />APPROVED this 26th day of March , 1968. <br />Jack D. Pahl _ <br />Village President <br />ATTEST: <br />Eleanor G. Rhrner.� <br />Village Clerk <br />PUBLISHED this 5th day of April , 1968 in the Elk Grove Herald <br />and the DuPage County Register. <br />