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RESOLUTION NO. 16-90 <br />A RESOLUTION RELEASING IRREVOCABLE LETTER OF CREDIT NO. <br />5315s FROM NBD ELK GROVE BANK EXPIRING JANUARY 23, 1990 <br />IN THE AMOUNT OF $5,000.00 PREVIOUSLY ACCEPTED BY RES. NO. <br />15-89 TO GUARANTEE COMPLETION OF PUBLIC IMPROVEMENTS AT <br />FAIRWAY PLAZA (TASTY DAWG LIVELY BLVD. AND HIGGINS RD.) <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 release of Irrevocable Letter of Credit No. 5315s from NBD <br />Elk Grove Bank, in the amount of $5,000.00 previously accepted by <br />Resolution No. 15-89 to guarantee completion of public improvements at <br />Fairway Plaza (Tasty Dawg) in accordance with the approved plans and . <br />specifications prepared by Marchris Engineering Company dated January 19, <br />1989. Said Letter of Credit expiring January 23, 1990. <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 />ATTEST: <br />PASSED <br />this <br />13th <br />day <br />of <br />February <br />1990. <br />APPROVED <br />this <br />13th <br />day <br />of <br />February <br />1990. <br />Patricia S. Smith <br />Village Clerk <br />Charles J. Zettek <br />Village President <br />