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R-22-07 02/26/2007VILLAGE OF LEMONT RESOLUTION NO. R `oZa , 01 A RESOLUTION AUTHORIZING ACCEPTANCE OF PUBLIC IMPROVEMENTS FOR COVINGTON KNOLLS SUBDIVISION - SINGLE FAMILY UNIT 4 -A ADOPTED BY THE PRESIDENT AND THE BOARD OF TRUSTEES OF THE VILLAGE OF LEMONT THIS 26TH DAY OF FEBRUARY, 2007 PUBLISHED IN PAMPHLET FORM BY AUTHORITY OF THE PRESIDENT AND BOARD OF TRUSTEES OF THE VILLAGE OF LEMONT, COUNTIES OF COOK, WILL AND DUPAGE, ILLINOIS, THIS 26TH DAY OF FEBRUARY, 2007 VILLAGE OF LEMONT RESOLUTION No. ��(— as -o7 A RESOLUTION AUTHORIZING ACCEPTANCE OF PUBLIC IMPROVEMENTS FOR COVINGTON KNOLLS SUBDIVISION - SINGLE FAMILY UNIT 4 -A WHEREAS, the Village of Lemont has adopted Ordinance 456, the Subdivision Regulations of the Municipal Code, to provide for the orderly growth of the Village and those territories within one and one half miles of the corporate limits; and WHEREAS, in accordance with Section X of the Subdivision Control Ordinance, the Village Board of Trustees shall consider requests to accept public improvements upon completion of same; and WHEREAS, Gallagher & Henry, the developer of property known as "Covington Knolls Subdivision, Single Family Unit 4 -A" has submitted a bill of sale and has petitioned the Village for acceptance of the public improvements in said subdivision; and WHEREAS, Village. Staff and Village Engineer have reviewed Covington Knolls Subdivision, Single Family Unit 4 -A improvements for compliance with approved plans, the Lemont Subdivision Control Ordinance, and the Covington Knolls Consent Decree, and recommended approval of the request with conditions; and WHEREAS, the Village will release Letter of Credit S526992, to guarantee installation of the public improvements since they have been found to be satisfactory, excepting a letter of credit maintenance guarantee for a period of two years from the date of acceptance. NOW, THEREFORE, BE IT RESOLVED, that the Village of Lemont President and Board of Trustees hereby accept Covington Knolls Subdivision Single Family Unit 4 -A accordance with the terms of the Lemont Subdivision Control Ordinance subject to the conditions listed below: 1. A two year maintenance guarantee shall be posted in the amount of $81,817.00, equal to ten percent of the original estimate of probable cost, in the form of a bank letter; and 2. A bill of sale must be provided. PASSED AND APPROVED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE VILLAGE OF LEMONT, COUNTIES OF COOK, DuPAGE AND WILL, ILLINOIS, on this 26th day of February, 2007. AYES NAYS ABSTAIN ABSENT Debby Blatzer Peter Coules Clifford Miklos Brian Reaves Ron Stapleton Jeanette Virgilio Approved by me this 26`h day of February, 2007. Attest: ARLENE SMOLLEN, Village Clerk M: \COMMUNITY DEVELOPMENT DEPT\200 - DEVELOPMENT - Letters of Credit \2007 Resolutions LOC\Covinpton Knolls SF Unit 4 -A.wpd