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

Home Browse Search

. • certificates of deposit, an assignment of a deposit in a bank, trust company or v' sa ings 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 , a able to the Ci of Decatur or shall be accom anied b a valid assi ent or P Y tY , P Y � pledge thereof in such form as is su�cient 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 A'L7:.. TIT,...1... Engineerin and Infrastructure, the amount of security may be reduced by an amount equal to the cost of the improvements completed and the Director of "._'-,:- `I'--'�- E�ineeringand Infrastructure may request that the City Treasurer return that amount to the obligor. No such bond shall be fully released until the improvements are accepted by the City in writing. *** 9-1. Whenever the tract to be subdivided is of such unusual size, shape or topography, or is surrounded by such development or unusual conditions that the strict application of the requirements contained in this Ordinance would result in real difficulties or substantial hardship, the Council may vary or modify such requirements as to any subdivision, or the Director of the Economic and Urban Development Department, with the concurrence of the Director of"..'-,:� `�'�_'}� � En ineerin�? and Infrastructure, may vary or modify such requirements as to any� minor subdivision, so that the subdivider may develop his property in a reasonable manner, but so that at the same time the public welfare and interests of the City and surrounding area are protected and the general interest and spirit of this Ordinance are preserved.