HomeMy WebLinkAboutRESOLUTION - 34-93 - 6/8/1993 - LOC/RELEASE/STANLEY STREET SUBRESOLUTION NO. 34-93
A RESOLUTION RELEASING IRREVOCABLE LETTER OF CREDIT
NO. 59075 FROM NBD ELK GROVE BANK EXPIRING NOVEMBER
10, 1990 IN THE AMOUNT OF $14,620.00 PREVIOUSLY
ACCEPTED BY RES. NO.73-89 TO GUARANTEE COMPLETION
OF PUBLIC IMPROVEMENTS (LANDSCAPING) FOR STANLEY STREET
SUBDIVISION (LOTS 1 THROUGH 9 (OF LOT 1) & LOT 2)
NOW, THEREFORE, BE IT RESOLVED by the President and Board of Trustees
of the Village of Elk Grove Village, Counties of Cook and DuPage, State of
Illinois:
Section 1: That the President and Board of Trustees do hereby
authorize the release of Irrevocable Letter of Credit No. 59075 from NBD
Elk Grove Bank, in the amount of $14,620.00 previously accepted by
Resolution No. 73-89 to guarantee completion of public improvements
(Landscaping) for Edital Corporation in accordance with the approved plans
and specifications prepared by Terry Findlay & Associates dated February 1,
1988. Said Letter of Credit expiring November 10, 1990.
Section 2: That this Resolution shall be in full force and effect
from and after its passage and approval according to law.
ATTEST:
PASSED this
APPROVED this
8th day of June , 1993.
8th day of
Patricia S. Smith
Village Clerk
June
, 1993.
Dennis J. Gallitano
Village President