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Illinois bonds

Carol Stream, IL — Stormwater Improvement Bond

Carol Stream's stormwater improvement bond is for the stormwater work described in the village's form and approved plans. Use Purchase Now to apply with the developer/principal details, improvement description and required security sum ready.

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Recorded state
Illinois
Bond type
Stormwater / Erosion / Land Disturbance Bond
Category
Environmental & natural resources

What this bond does

The village's Stormwater Improvements Performance Bond secures installation and construction of the specified improvements in conformity with submitted plans, specifications and village ordinances. The engineering department describes this security as supporting proper completion of stormwater facilities and erosion controls during construction.

Who needs it
Developers proposing stormwater facility improvements and the principal or principals named in the village's security request.
Who it protects
The Village of Carol Stream is the obligee. This is not the separate public-improvement preservation bond used for damage to existing public infrastructure, and it does not replace liability insurance.

Your bond option

This is the option on record for this bond.

The bond amount describes the limit of the bond obligation, not the price. A listed amount does not establish what the requesting party requires. The premium is what you pay and must be confirmed for the actual option. An E&O limit, where listed, is separate errors and omissions insurance.

Name the stormwater improvements, not just the development

The bond form has fields for the covered improvements and the plans or specifications submitted to the village. Collect those references with the project name so the application identifies what is actually being secured.

The village publishes separate security forms for new public improvements, preservation of existing public improvements and stormwater work. Select the form requested for this obligation. The stormwater form does not supply a fixed annual term or a universal amount; obtain the village's required sum and current execution and submission instructions.

Sources

Have these ready

  1. Have the village's stormwater security request and current performance bond form.
  2. Identify the principal or principals and exact covered stormwater improvements.
  3. Collect the approved plans/specifications and required bond sum.
  4. Keep land-improvement permitting and stormwater certification requirements separate from the bond application.

Questions about this bond

Will a public-improvement preservation bond satisfy this request?

Do not assume so. The village describes preservation security as addressing damage to existing public infrastructure. Its stormwater security addresses the proposed stormwater facilities and erosion controls. Match the requested form and work.

Does applying for this bond issue a land improvement permit?

No. The village's land improvement permit and applicable stormwater certification are separate processes. Provider approval of a bond application does not complete those village approvals.

What happens at checkout?

Purchase Now opens Propeller in a new tab to start the application. Review the principal, Village of Carol Stream obligee, improvement scope, form and sum. After issuance, complete the signatures and submit the bond using the village's instructions; acceptance is a separate step.

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