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RESOLUTION NO. 11-88 <br />A RESOLUTION ACCEPTING AN IRREVOCABLE LETTER OF CREDIT NO. <br />8938 FROM NBD PARK RIDGE BANK EXPIRING OCTOBER 31, 1988 IN <br />THE AMOUNT OF $2,156.00 TO GUARANTEE COMPLETION OF PUBLIC <br />IMPROVEMENTS FOR NELSON-WESTERBERG COMPANY (1500 Arthur) <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 Letter of Credit No. 8938 from NBD <br />Park Ridge Bank in the amount of $2,156.00 to guarantee completion of <br />public improvements for Nelson -Westerberg Company in accordance with the <br />approved plans and specifications dated October 21, 1987, prepared by John <br />Schraw Inc., Architect, 29 North Broadway, Des Plaines, Illinois 60016 <br />attached hereto and made a part hereof. Said Letter of Credit expiring <br />October 31, 1988. <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 9th day of February , 1988. <br />APPROVED this 9th day of February , 1988. <br />Charles J. Zettek <br />Village President <br />ATTEST: <br />Patricia S. Smith <br />Village Clerk <br />