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RESOLUTION NO. 23-90 <br />A RESOLUTION RELEASING LETTERS OF CREDIT NO. 8798 AND NO. 8834 <br />ACCEPTED BY RES. NOS. 8-87 AND 29-87 AND ACCEPT CERTIFICATE OF <br />APPROVAL AND INITIAL ACCEPTANCE; DEED OF CONVEYANCE/BILL OF SALE; <br />MAINTENANCE LETTER OF CREDIT 10268 IN THE AMOUNT OF $18,064.00 <br />EXPIRING MAY 1, 1992 GUARANTEEING MAINTENANCE OF PUBLIC IMPROVE- <br />MENTS FOR TOUHY/HIGGINS SUBDIVISION <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 Letter of Credit No. 8798 accepted by Resolution <br />No. 8-87 in the amount of $217,300.00 securing the installation of public <br />improvements and Letter of Credit No. 8834 accepted by Resolution No. 29-87 <br />in the amount of $71,500.00 securing the installation of the uff-site <br />watermain. 1. <br />Section 2: That the President and Board of Trustees do hereby accept <br />a Certificate of Approval and Initial Acceptance, Deed of Conveyance/Bill <br />of Sale, and Letter of Credit No. 10268 in the amount of $18,064.00 <br />expiring May 1, 1992 guaranteeing the maintenance of public improvements <br />for Touhy/Higgins Subdivision as described in the engineering plans and <br />specifications with revisions dated September 10, 1986 and April 21, 1987, <br />prepared by Cowhey Gudmundson Leder, Ltd., 300 Park Blvd., Itasca, Illinois <br />60143, and agreements (including any amendments thereof) on property <br />legally described in Exhibit "A" attached hereto and made a part hereof. <br />Section 3: That this Resolution shall be in full force and effect <br />from and after its passage and approval according to law. <br />PASSED this 13th day of March 1990. <br />APPROVED this 13th day of March 1990. <br />Charles J. Zettek <br />Village President <br />ATTEST: <br />Patricia S. Smith <br />Village Clerk <br />