HomeMy WebLinkAboutRESOLUTION - 66-83 - 10/25/1983 - LOC REPLACEMENT/PARKVIEW SUB RzSOLUTION NO . 66-83
A RESOLUTION ACCEPTING A REPLACEMENT LETTER OF IRREVOCABLE
CREDIT IN THE AMOUNT OF $520 , 000. 00 FROM TALMAN HOME IN-
VESTMENTS , INC. TO GUARANTEE COMPLETION OF PUBLIC IMPROVE-
MENTS IN THE PARKVIEW HEIGHTS SUBDIVISION REPLACING THE
PERFORMANCE GUARANTEE PREVIOUSLY ADOPTED BY RESOLUTION
NUMBER 112-80
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 acceptance of a replacement Letter of
Irrevocable Credit with Exhibit A & B in the amount of $520 , 000 . 00 ,
guaranteeing the completion of public improvements as required
in the Subdivision Control Ordinance, in the Parkview Heights
Subdivision, said improvements as shown on Appendix "A" attached
hereto and made a part hereof and as shown on the Engineering
plans and specifications with revisions dated September 21,
1978 , prepared by Elk Grove Engineering Company, 860 Lively
Boulevard, Elk Grove Village, Illinois. Said Replacement
Letter of Credit, to guarantee the construction of public im-
provements, expires December 31 , 1985. Said property located
on the west side of Rohlwing Road, north and south of Biester-
field Road in Elk Grove Village.
Section 2. That this resolution shall be in full force
and effect from and after its passage and approval according
to law.
PASSED this 25th day of October 1983 .
APPROVED this 25th day of October 1983 .
Charles J. Zettek
Village President
ATTEST :
Ilafern Snick
Acting Village Clerk