HomeMy WebLinkAboutRESOLUTION - 84-79 - 10/9/1979 - PERFORMANCE BOND SECTION 23B RESOLUTION NO. 84-79
A RESOLUTION ACCEPTING AND PLACING ON FILE A SUBDIVISION BOND FROM SAFECO
INSURANCE COMPANIES NO. 2881701 IN THE AMOUNT OF $1 ,414,128.00 FILED WITH
THE VILLAGE BY CENTEX HOMES MIDWEST, INC. , GUARANTEEING THE CONSTRUCTION
OF PUBLIC IMPROVEMENTS IN WINSTON GROVE SECTION 23B
NOW, THEREFORE, BE IT RESOLVED by the President and Board of Trustees
of the Village of Elk Grove Village, Counties of Cook and DuPage, State of
Illinois: :
Section 1 . That the President and Board of Trustees do hereby authorize
the acceptance and placing on file of a Subdivision Performance Bond No. 2881701
In the amount of $1 ,414, 128.00 to guarantee the construction of public improve-
ments: streets, curbs; underground facilities, sidewalks, streetlights, street
signs and parkway trees in Winston Grove Section 23B, in accordance with plans and
specifications prepared by Henderson and Bodwell , 120 Express Street, Plainview,
New York 11803.
Section 2. That the President and Board of Trustees do also authorize that
upon the satisfactory installation of the aforementioned public improvements the
Village of Elk Grove Village shall reduce the amount of this bond by the following
incremental sums:
FROM: Utilities, $766,909.00 TO: $388,454.50
Roadway Phase I , $409,885.00 TO: $204,942.50
Roadway Phase II $227,334.00 To: $113,667.00
as shown on Surety Rider attached hereto and made a part hereof.
Section 3. That this resolution shall be in full force and effect from
and after its passage and approval according to law.
PASSED this 9th day of October 1979,
APPROVED this 9th day of October 1979,
Charles J. Zettek l
Village President
ATTEST:
Village Clerk