HomeMy WebLinkAboutRESOLUTION - 74-85 - 9/10/1985 - LOC EXTENSION RESOLUTION NO. 74-85
A RESOLUTION ACCEPTING AND PLACING ON FILE AN EXTENSION TO AN
IRREVOCABLE LETTER OF CREDIT FROM THE FIRST NATIONAL BANK OF BLUE
ISLAND NO. 14471 (EXPIRING DECEMBER 31 , 1985) IN THE AMOUNT OF
$22,385.00 TO GUARANTEE THE COMPLETION OF CONSTRUCTION AND MAIN-
TENANCE OF PUBLIC IMPROVEMENTS IN THE REGENCY SQUARE PHASE II
NORTH DEVELOPMENT AND THE KENT STREET EXTENSION (PREVIOUSLY ADOPTED
BY RESOLUTION NO. 11-82 AND AMENDED BY RESOLUTION NO. 70-83 and 69-84)
NOW, THEREFORE, BE IT RESOLVED by the President and Board of Trustees of
the Village of Elk Grove Village, Counties of Cook and DuPage, Illinois:
Section 1 . That the President and Board of Trustees do hereby authorize
the acceptance of an irrevocable Letter of Credit from the First National Bank
of Blue Island, No. 14471 in the amount of $22,385.00, expiring December 31 ,
1985, to guarantee the completion of construction and maintenance of public
improvements in the Regency Square Phase II North Development and the Kent Street
Extension, copies of which are attached hereto and made a part hereof as if
fully set forth.
Section 2. That this resolution shall be in full force and effect from
and after its passage and approval according to law.
PASSED this 10th day of September 1985•
APPROVED this 10th day of September 1985.
Charles J. Zettek
Village President
ATTEST:
Patricia S. Smith
Village Clerk
RST NATIONAL BANK
O F B L U E I S L A N D
1 6.WESTERN AVENUE • BLUE ISLAND, ILL,NOIS 60406 • 335-2200
IRREVOCABLE LETTER OF CREDIT
DATE OF EXTENSION: July 3 , 1985
LETTER OF CREDIT NUMBER: 14471
BENEFICIARY APPLICANT
Village of Elk Grove Bianco Construction Company
901 Wellington Avenue 1100 Industrial Drive
Elk Grove, IL 60007 Bensenville, IL 60101
Gentlemen:
Please be advised that First National Bank of Blue Island is
extending Letter of Credit #14471 one hundred eighty-one (181)
days from July 3, 1985 to December 31, 1985.
All other terms and conditions of Letter of Credit #14471 will
remain the same.
FIRST NATIONAL BANK OF BLUE ISLAND
BY-
JAMES` J. JSYRIR, VICE PRESIDENT
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