Laserfiche WebLink
RESOLUTION NO. 26-88 <br />A RESOLUTION RELEASING LETTER OF CREDIT NO. 1054 (IN THE AMOUNT <br />OF $139,978.85) ACCEPTED BY RESOLUTION NO. 42-86 AND ACCEPTING <br />IRREVOCABLE LETTER OF CREDIT NO. 1086 FROM ITASCA BANK & TRUST <br />IN THE AMOUNT OF $33,611.00 EXPIRING MARCH 17, 1989 GUARANTEEING <br />COMPLETION OF PUBLIC IMPROVEMENTS IN SHENANDOAH SUBDIVISION <br />PHASE IIC <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 Du Page, 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. 1054 in the <br />amount of $139,978.85 and accent Irrevocable Letter of Credit No. 1086 from <br />Itasca Bank & Trust in the amount of $33,611.00 guaranteeing the completion <br />of public improvements in Shenandoah Subdivision Phase IIC. <br />Said Letter of Credit expiring March 17, 1989. <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 26th <br />APPROVED this 26th <br />ATTEST: <br />Patricia S. Smith <br />Village er <br />day of April , 1988. <br />day of April , 1988. <br />Charles J. Zettek <br />Village President <br />