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RESOLUTION NO. 10-85 <br />A RESOLUTION ACCEPTING AN IRREVOCABLE LETTER OF CREDIT FROM THE <br />TALMAN HOME FEDERAL SAVINGS AND LOAN ASSOCIATION OF ILLINOIS IN <br />THE AMOUNT OF $48,567.00 TO GUARANTEE THE CONSTRUCTION OF PUBLIC <br />IMPROVEMENTS IN SHENANDOAH SUBDIVISION UNIT 2-A <br />NOW, THEREFORE, BE IT RESOLVED by the President and Board of Trustees <br />I <br />of the Village of Elk Grove Village, Counties of Cook and DuPage, State of <br />IIIinois: <br />Section 1: That the President and Board of Trustees do hereby authorize <br />the acceptance of an Irrevocable Letter of Credit from the Talman Home Federal <br />Savings and Loan Association of Illinois in the amount of $84,567.00 to <br />guarantee construction of public improvements in the Shenandoah Subdivision <br />Subdivision Unit 2-A, as shown on Exhibit "A" attached hereto and made a <br />part hereof. The legal description as fully described in Exhibit "B" <br />attached hereto and made a part hereof, and in accordance with engineering <br />drawings and specifications dated June 16, 1978 for Shenandoah with revisions <br />dated November 5, 1984, prepared by Elk Grove Engineering, 860 Lively Blvd., <br />Elk Grove Village, Illinois, which have been previously submitted to, and <br />approved by the Engineering Department of the Village of Elk Grove Village. <br />Said Letter of Irrevocable Credit effective Janaury 1, 1985 and expiring <br />January 1, 1987. <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 Clerk <br />day of February 1985• <br />day of February 1985• <br />Charles J. Zettek <br />Village President <br />