HomeMy WebLinkAboutRESOLUTION - 43-82 - 8/10/1982 - LOC/SHENANDOAH SUBDIVISIONRESOLUTION NO. 43-82
A RESOLUTION ACCEPTING A LETTER OF CREDIT FROM TALMAN HOME INVEST-
MENTS, INC. IN THE AMOUNT OF $31,700.00 TO GUARANTEE THE MAINTENANCE
OF COMPLETED IMPROVEMENTS IN THE SHENANDOAH SUBDIVISION
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 Letter of Credit from the Talman Home Investments, Inc. in
the amount of $31,700.00 to guarantee the maintenance of public improvements in
the development known as the Shenandoah Subdivision as fully described in Exhibit
"A" attached hereto and made a part hereof in accordance with engineering plans
prepared by Elk Grove Engineering Company and approved by the Village of Elk Grove
Village on April 28, 1982. Said Letter of Credit becoming effective July 19, 1982,
and replacing Interim Maintenance Bonds approved by the Village Board by Resolu-
tions No. 28-81 and 29-81. These two Maintenance Bonds having expired on
April 11, 1982.
SECTION 2: That this Resolution shall be in full force and effect from
and after its passage and approval according to law.
PASSED this loth day of August 1982.
APPROVED this loth day of August 1982.
Michael Tostol
Village President Pro tem
ATTEST:
Patricia S. Smith)
Village Clerk