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1992-08611/12/92 0 0 ORDINANCE NO. 92- 86 AN ORDINANCE AMENDING TITLE 191 PARK, SCHOOL AND LIBRARY DONATIONS OF THE VILLAGE MUNICIPAL CODE WHEREAS, the Village of Buffalo Grove is a Home Rule Unit pursuant to the Illinois Constitution of 1970; and WHEREAS, the fair market value of land to be dedicated or donated may be different than the amount set forth in Section 19.01.040.B. of the Village of Buffalo Grove Municipal Code; NOW, THEREFORE, BE IT ORDAINED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE VILLAGE OF BUFFALO GROVE, COOK AND LAKE COUNTIES, ILLINOIS, as follows: Section 1. Section 19.01.100 of the Village of Buffalo Grove Municipal Code is hereby amended to read as follows: 19.01.100 Land conveyance by warranty deed. The following requirements shall be provided prior to acceptance of any land to be dedicated or donated: A. a current survey; B. a title insurance commitment, acceptable to the Village, in an amount no less than the fair market value of the land as determined by the Village; C. a warranty deed; D. a written statement from grantor or developer stating that they shall be responsible for paying the real estate taxes on the land until an exemption is obtained. Section 2. This ordinance shall be in full force and effect from and after its passage and approval. D _ p AYES: 5 - Mar' nthal, NAYES: 0 - None ABSENT: 1 - Kahn PASSED: November 16 ' 1992 APPROVED: November 16 1992' ATTEST: Vk4,Lage Clerk 11/12/92 WHEREAS, the Village of Buffalo Grove is a Home Rule Unit pursuant to the Illinois Constitution of 1970; and WHEREAS, the fair market value of land to be dedicated or donated may be different than the amount set forth in Section 19.01.040.B. of the Village of Buffalo Grove Municipal Code; NOW, THEREFORE, BE IT ORDAINED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE VILLAGE OF BUFFALO GROVE, COOK AND LAKE COUNTIES, ILLINOIS, as follows: Section 1. Section 19.01.100 of the Village of Buffalo Grove Municipal Code is hereby amended to read as follows: 19.01.100 Land conveyance bX warranty deed. The following requirements shall Be provided prior to acceptance of any land to be dedicated or donated: A. a current survey; B. a title insurance commitment, acceptable to the Village, in an amount no less than the fair market value of the land as determined by the Village; C. a warranty deed; D. a written statement from grantor or developer stating that they shall be responsible for paying the real estate taxes on the land until an exemption is obtained. Section 2. This ordinance shall be in full force and effect from and after its passage and approval. AYES: NAYES: 0 - Nonp ABSENT: 1 - Kahn PASSED: November 16 i 1992. APPROVED: November 16 i 1992. ATTEST: 3�a\ V age, .Cle.r,k