HomeMy WebLinkAboutRESOLUTION - 47-92 - 7/14/1992 - RELEASE MAINTENANCE BOND/CENTEXRESOLUTION NO. 47_92
A RESOLUTION RELEASING A MAINTENANCE BOND NO. 349 5700 IN
THE AMOUNT OF $150,000.00 (AS REQUIRED BY RESOLUTION NO.58-
87) TO ARROW ROAD CONSTRUCTION FOR INSTALLATION OF PUBLIC
IMPROVEMENTS IN CENTEX SECTION 23A; SECTION 23B, RESUB -
DIVISIONS 1. 2. 3: SECTIONS 24 AND 25
WHEREAS, the Arrow Road Construction Company has submitted a
Maintenance Bond in the amount of $150,000.00 expiring on November 14,
1991, to the Village of Elk Grove Village, and has fully complied with all
provisions thereof appertaining. Said Maintenance Bond was adopted by
Resolution No. 58-87 on September 22, 1987.
NOW, THEREFORE, BE IT RESOLVED by the President and Board of
Trustees of the Village of Elk Grove Village, Counties of Cook and
DuPage, Illinois:
Section 1. That the President and Board of Trustees do hereby
authorize release of Maintenance Bond No. 349 5700 issued by Fireman's Fund
Insurance Companies in the amount of $150,000.00 for guaranteeing the
material and workmanship of the Bituminous surface course constructed on
all streets within the Centex Subdivision Sections 23A; 23B, Resubdivisions
1, 2, 3; Sections 24 and 25; and
Section 2. That this Resolution shall be in full force and effect
from and after its passage and approval according to law.
PASSED this 14th
APPROVED this 14th
ATTEST:
Patricia S. Smith
Village Clerk
day of July 1992.
day of July 1992.
Charles J. Zettek
Village President