HomeMy WebLinkAboutRESOLUTION - 48-93 - 8/24/1993 - LOC RELEASE/TOUHY HIGGINS SUBRESOLUTION NO. 48-93
A RESOLUTION RELEASING IRREVOCABLE LETTER OF CREDIT
NUMBER 10268 FROM NBD PARK RIDGE BANK EXPIRING MAY 1,
1992 IN THE AMOUNT OF $18,064.00 PREVIOUSLY ACCEPTED
BY RES. NO. 23-90 TO GUARANTEE MAINTENANCE OF PUBLIC
IMPROVEMENTS FOR TOUHY/HIGGINS SUBDIVISION AND OFF-SITE
WATERMAIN EXTENSION
NOW, THEREFORE, BE IT RESOLVED by the President and Board of Trustees
of the Village of Elk Grove Village, Counties of Cook and Du Page, State of
Illinois:
Section 1: That the President and Board of Trustees do hereby
authorize the release of Irrevocable Letter of Credit No. 10268 from NBD
Park Ridge Bank in the amount of $18,064.00 previously accepted by
Resolution No. 23-90 to guarantee maintenance of public improvements in
accordance with the approved plans and specifications with revisions dated
September 10, 1986 and April 21, 1987, prepared by Cowey Gudmundsen, leder,
Ltd. Said Letter of Credit expiring May 1, 1992.
Section 2: That this Resolution shall be in full force and effect
from and after its passage and approval according to law.
PASSED
this
24th
day
of
August
1993.
APPROVED
this
24th
day
of
August
1993.
Dennis J. Gallitano
Village President
ATTEST:
Patricia S. Smith
Village Clerk