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RESOLUTION NO. 23-88 <br />A RESOLUTION ACCEPTING AN AMENDMENT TO IRREVOCABLE LETTER OF <br />CREDIT NO. 8834 FROM NBD PARK RIDGE BANK EXPIRING FEBRUARY 1, <br />1989 DECREASING THE AMOUNT OF $71,500 TO $8,157.70 TO GUARANTEE <br />THE COMPLETION OF AN OFFSITE WATER MAIN EXTENSION IN THE <br />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 OuPage, State of <br />Illinois: <br />Section 1: That the President and Board of Trustees do hereby <br />authorize the acceptance of an amendment to Irrevocable Letter of Credit <br />No. 8834 from NBD Park Ridge Bank decreasing the amount of $71,500 to <br />$8,157.70 to guarantee the completion of public improvements for the <br />Touhy/Higgins Subdivision Offsite Watermain Extension described in the <br />engineering plans and specifications dated April 21, 1987, prepared by <br />Cowhey, Gudmundson Leder, Ltd., One Pierce Place, Itasca, Illinois <br />60143 on property described in Exhibit "A" attached hereto and made a part <br />hereof. Said Letter of Credit expiring February 1, 1989, originally <br />accepted by Resolution No. 29-87. <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 12th <br />APPROVED this 12th <br />ATTEST: <br />Patricia S. Smith <br />Village Clerk <br />day of April , 1988. <br />day of April , 1988. <br />Charles J. Zettek <br />Village President <br />