Ordinance 2003-22 a
STATE OF ILLINOIS )
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COUNTY OF KENDALL )
ORDINANCE NO. 2003- c-�Q
AN ORDINANCE APPROVING LETTER OF CREDIT
AND SUBDIVISION BOND REQUIRMENT AND REVOKING RESOLUTION 02-37
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WHEREAS, THE UNITED CITY OF YORKVILLE, after careful consideration
by the Mayor and City Council,has determined it necessary to modify the Letter of
Credit and Subdivision Bond Requirement as contained in the Subdivision Control
Ordinance of the UNITED CITY OF YORKVILLE in order to preserve the heath, safety
and well being of its citizens; and
WHEREAS, the Mayor, City Council of the United City of Yorkville,Kendall
County, Illinois,by a Resolution adopted on the 12th day of November, 2002, did modify
the requirements for acceptance of public improvements in newly developed
subdivisions; and
WHEREAS, THE UNITED CITY OF YORKVILLE, after careful consideration
by the Mayor and City Council, in order to serve the development community while
protecting its citizens,has determined it necessary to reduce the Letter of Credit and
Subdivision Bond requirement to fifteen percent (15%) of the approved engineer's
estimation of cost when public improvements are formally accepted by the City; and
NOW THEREFORE BE IT ORDAINED BY THE UNITED CITY OF YORKVILLE;
That the amount of security to be held during the one year warranty period after
formal acceptance of public improvements by the City Council, which shall be one year
from the date of acceptance of any public improvement by the City Council,by the
United City of Yorkville City Council shall be fifteen percent (15%) of the approved
engineer's estimation of cost, in the form of a Letter of Credit, a Surety Bond or Cash
Pledge.
REPEALER: All Ordinances, Resolutions or parts of Ordinances conflicting with
any of the provisions of this ordinance shall be and the same are hereby repealed.
SEVERABILITY: If any section, subsection,.] sentence, clause, phrase or
portion of this ordinance is for any reason held invalid or unconstitutional by any Court
of competent jurisdiction, such portion shall be deemed a separate, distinct, and
independent provision, and such holding shall not affect the validity of the remaining
portions hereof.
EFFECTIVE DATE: This ordinance shall be in effect from and after its passage,
approval and publication in pamphlet form as provided by law.
MIKE ANDERSON JOSEPH BESCO
VALERIE BURR PAUL JAMES
LARRY KOT MARTY MUNNS l
ROSE SPEARS RICHARD STICKA
l
APPROVED by me, as ayor of the United City of Yorkville, Kendall County, Illinois
this 9�k day of , A.D. 20_p_�_.
MAYOR
PASSED by the City Counci of the United City of Yorkville, Kendall County,
Illlinois this day of s�' ,A.D. 2003.
Attes —
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