2000-73 AMENDING ORDINANCE NO. 80-56 - SUBDIVISION

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drainage system shall be designed in conformity with the "Report on Storm Drainage for the City of Decatur, Illinois, 1966". 7-9-2. If a storm drainage system for a proposed subdivision is designed to outlet into an existing storm sewer system, the existing system must be shown by application of generally accepted good engineering practices and principles to be adequate to carry the proposed additional flow. If the existing sewer is found to be inadequate to do so, some provisions must be made to accommodate the additional flow, such as a pazallel storm sewer, a storm water accumulation area, or such other provision as is approved by the Director of the Department of Engineering and Infrastructure. Section 5. That said Subdivision Ordinance be, and the same is hereby, further modified and amended at Section 8, paragraph 8-1, so that said pazagraph 8-1, as so modified and amended, shall provide as follows: 8-1. Whenever a bond to assure the construction, installation or completion of improvements in accordance with an approved preliminary plat, or otherwise, is required by the provisions of this Ordinance, such bond shall be provided by the owner of the land sought to be subdivided in such amount as is determined to be 120% of the estimated cost of all the improvements covered thereby and which bond shall have as security thereon a surety company qualified to do business in the State of Illinois. In lieu of the security aforesaid, the obligor of such bond may deposit with the City Treasurer, in an amount equal to the amount of such bond, cash, a certified check, a cashier's check, a letter of credit, certificates of deposit, an assignment of a deposit in a bank, trust company or savings and loan association, or direct obligations, becoming due and payable during the term of such bond, of the United States of America, the State of Illinois, or the City of Decatur. The security so deposited shall be either made payable to the City of Decatur, or shall be accompanied by a valid assignment or pledge thereof in such form as is sufficient to vest the deposited security in the City of Decatur upon presentation thereof to the bank, trust company, association, or government connected therewith. No bond shall be tendered to the Council unless the same is accompanied by the recommendation of the Corporation Counsel as to the security offered therewith. Any interest which shall accrue upon the security deposited as aforesaid may be paid directly to the principal who deposited the security with the City Treasurer, or if the same is paid to the City Treasurer, he shall pay the same over to said principal. The City shall not be obligated to pay interest on any cash or other non-interest bearing security deposited hereunder. From time to time, as the improvements are completed by the obligor and upon written application to the Director of Engineering and Infrastructure, the amount of security may be reduced by an amount equal to the cost of the improvements completed and the Director of Engineering and Infrastructure may request that the City Treasurer return that amount to the