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RESOLUTION NO. 28-93 <br />A RESOLUTION ACCEPTING AN IRREVOCABLE STRAIGHT LETTER OF CREDIT <br />NO. 00318466 FROM THE FIRST NATIONAL BANK OF CHICAGO EXPIRING <br />JUNE 17, 1994 IN THE AMOUNT OF $400,000.00 TO GUARANTEE <br />CONSTRUCTION OF PUBLIC IMPROVEMENTS AT SUPER KMART SHOPPING <br />CENTER (BIESTERFIELD/MEACHAM) <br />NOW, THEREFORE, BE IT RESOLVED by the President and Board of Trustees <br />of the Village of Elk Grove Village, Counties of Cook and DuPage, State of <br />Illinois: <br />Section 1. That the President and Board of Trustees do hereby <br />authorize the acceptance of Irrevocable Straight Letter of Credit No. <br />00318466 from First National Bank of Chicago in the amount of $400,000.00 <br />to guarantee construction of public improvements for Super KMart Shopping <br />Center, Biesterfield and Meacham Roads, in accordance with engineering <br />plans and specifications with revisions dated March 22, 1993, prepared by <br />Cowhey, Gudmundson, Leder, Ltd., approved on March 25, 1993. Said Letter <br />of Credit expiring June 17, 1994. <br />Section 2. That this Resolution shall be in full force and effect <br />from and after its passage and approval according to law. <br />PASSED this 25th day of May , 1993. <br />APPROVED this 25th day of May , 1993. <br />Dennis J Gallitano <br />Village President <br />ATTEST: <br />Patricia S. Smith <br />Village Clerk <br />By: Ann I. Head <br />Deputy Village Clerk <br />