AUTHORIZING THE ACCEPTANCE OF PUBLIC IMPROVEMENTS IN
POD 2, TORREY PINES IN THE GREGG’S LANDING SUBDIVISION AND RELEASE OF CERTAIN FINANCIAL GUARANTEES.
WHEREAS, the Village of Vernon Hills requires Village Board approval for completion of subdivision projects;
WHEREAS, the developer has completed the required public improvements;
WHEREAS, following Board approval, the village will return the following financial guarantees upon receipt of the two-year maintenance guarantee in the amount of 10% of the original Letter of Credit:
1. Letter of Credit #0088-00-9691362
NOW THEREFORE BE IT RESOLVED BY THE VILLAGE PRESIDENT AND BOARD OF TRUSTEES OF THE VILLAGE OF VERNON HILLS, LAKE COUNTY, ILLINOIS:
That the Village Board of Vernon Hills accepts the public improvements for Pod 2, Torrey Pines, in the Gregg’s Landing subdivision and releases the above listed financial guarantee upon receipt of the two-year maintenance guarantee in the amount of 10% of the original Letter of Credit.
Dated this 19th day of August, 2003.
Adopted by roll call vote as follows:
ABSENT AND NOT VOTING: