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RESOLUTION NO. 63-86 <br /> A RESOLUTION ACCEPTING AN IRREVOCABLE LETTER OF CREDIT NO. <br /> 86-107 FROM FIRST AMERICAN BANK OF DUNDEE EXPIRING JULY 17, <br /> 1987 IN THE AMOUNT OF $1,485.00 TO GUARANTEE INSTALLATION <br /> OF PUBLIC IMPROVEMENTS AT 1550 ARTHUR AVENUE (ALLSTAR) <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 authorize <br /> the acceptance of an Irrevocable Letter of Credit from the First American Bank <br /> of Dundee in the amount of $1 ,485-00 to guarantee installation of public improve- <br /> ments on property located at 1550 Arthur Avenue, the legal description as fully <br /> described in Exhibit "A" attached hereto and made a part hereof, and in accordance <br /> with engineering plans and specifications with revisions dated April 10, 1986 <br /> prepared by the Chia Co. , 23 W. Higgins Road, South Barrington, Illinois 60010. ' <br /> Said Letter of Credit expiring July 17, 1987. <br /> Section 2: That this Resolution shall be in full force and effect from <br /> and after its passage and approval according to law. <br /> PASSED this 12th day of August , 1986. <br /> APPROVED this 12th day of August , 1986. <br /> Charles J. Zettek <br /> Village President <br /> ATTEST: <br /> Patricia S. Smith <br /> Village Clerk <br />