HomeMy WebLinkAboutORDINANCE - 1831 - 8/26/1986 - REQUIRED BOND REDUCED/$10,000ORDINANCE NO. 1831
AN ORDINANCE AMENDING SECTION 71.703 OF THE MUNICIPAL CODE OF THE
VILLAGE OF ELK GROVE VILLAGE THEREBY REDUCING THE REQUIRED BOND
FROM $50,000 TO $70,000
BE IT ORDAINED by the President and Board of Trustees of the Village of
Elk Grove Village, Counties of Cook and DuPoge, Illinois as follows:
Section 7: That Section 11.703 Bond Insurance, of the Municipal Code of
the Village of Elk Grove Village be and the some is hereby amended by deleting the
present language contained therein so that said Section shall read as follows:
Section 11. 703. Bond - Insurance.
Each Applicant shall file o bond, in the amount of Ten Thousand ($10,000.00)
Dollars with sureties to be approved by the President and Board of Trustees, con-
ditioned to indemnify the Village from any loss or damage resulting from the work
undertaken or the manner of doing the some.
Each Applicant shall further provide evidence to the Village of insurance,
said Certificate of Insurance to name the Village of Elk Grove Village as on
additional party insured and be sufficient to cover of/ contract work to be per-
formed by the General Contractor and any subcontractor and shall be in the
following amounts:
Comprehensive General Liability
insurance for each occurrence in the
sum of $700,000.00 and aggregate in
the sum of $300,000.00.
2. Property damage in the amount of
$700,000.00 for each occurrence.
3. Comprehensive automobile liability in
the amount of $700,000.00 for bodily
injury each occurrence and $300,000.00
for bodily injury aggregate, and
$700,000.00 property damage for each
occurrence.
4. Excess Umbrella Liability in the
amount of One Million Dollars to cover
claims exceeding the above principal
coverages, providing that such excess
umbrella coverage shall not be required
if the amounts of the Comprehensive
General Liability Insurance and the
Comprehensive Automobile Liability
Insurance as set forth in paragraphs 1,
and 3, above ore increased to the sum
of Five Hundred Thousand Dollars for
each occurrence and on aggregate sum
of One Million Dollars.
5. Workers' Compensation.
6. Employer's Liability $700,000.00 each
accident.
Poe 2
Section 2: The Village Clerk is hereby authorized to publish this Ordinance
in pamphlet form.
Section 3: That this Ordinance sholl be in full force and effect from and
after its passage, approval and publication according to low.
VOTE: AYES: 5 NAYS: 0 ABSENT: 1
PASSED: this 26tKdoy of August 1986.
APPROVED: this 26th day of August 1986.
Charles J. Zettek _
Village President
ATTEST:
_ Patricia S. Smith
Village Clerk
PUBLISHED this 28thdoy of August 1986, in pamphlet form.