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RESOLUTION NO. 106-80 <br />A RESOLUTION ACCEPTING A LETTER OF CREDIT NO. FNBC 1412-00300362 FROM <br />THE FIRST NATIONAL BANK OF CHICAGO IN THE AMOUNT OF $510,078.22 TO <br />GUARANTEE THE CONSTRUCTION OF PUBLIC IMPROVEMENTS IN THE SDK REGENT <br />BUSINESS CENTER, PHASE I (PROJECT 7054) <br />NOW, THEREFORE, BE IT RESOLVED by the President and Board of Trustees of the <br />Village of Elk Grove Village, Counties of Cook and DuPage, State of Illinois: <br />Section 1. That the President and Board of Trustees do hereby authorize the <br />acceptance of Letter of Credit No. FNBC 1412-0300363 FROM THE FIRST NATIONAL <br />BANK OF CHICAGO in the amount of $510,078.22, to guarantee the construction of <br />public improvements in the development known as SDK Regent Business Center, Phase I <br />(Project 7054) as fully detailed in Exhibit ''A'' attached hereto and made a part <br />hereof in accordance with engineering plans prepared by Elk Grove Engineering <br />Company, 860 Lively Boulevard, Elk Grove Village, Illinois and approved by the <br />Village of Elk Grove Village on October 3, 1980. Said Letter of Credit becoming <br />effective October 28, 1980 and expiring on September 1, 1981. <br />Section 2. That this resolution is in full force and effect from and after <br />its passage and approval according to law. <br />PASSED this 12th day of November 1980. <br />APPROVED this 12th day of November 1980. <br />Charles J. Zettek <br />Village President <br />ATTEST: <br />Fay M. Bishop <br />Village Clerk <br />