HomeMy WebLinkAboutRESOLUTION - 38-84 - 5/22/1984 - LOC AMENDMENT/GULLO INTERN'L OFFICERESOLUTION NO. 38-84
A RESOLUTION ACCEPTING AND PLACING ON FILE AN AMENDMENT
TO AN IRREVOCABLE LETTER OF CREDIT FROM THE BANK OF ELK
GROVE NO. 16505 IN THE AMOUNT OF $8,530.50 GUARANTEEING
THE CONSTRUCTION OF BITUMINOUS CONCRETE SURFACE COURSE IN THE
GULLO INTERNATIONAL OFFICE AND INDUSTRIAL CENTER SUBDIVISION
NORTH OF OAKTON STREET (PREVIOUSLY ADOPTED BY RESOLUTION
NO. 21-83)
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 here-
by authorize the acceptance of an amendment to an irrevocable Letter
of Credit from the Bank of Elk Grove, No. 1650S in the amount of
$8,530.50, expiring May 15, 1985, for the installation of bitumin-
ous concrete surface course in the development known as Gullo Inter-
national Office and Industrial.Center in accordance with the plans
and specifications prepared by the Chia Company, 5732 Gardner Court,
Hanover Park, Illinois and approved on October 11, 1979.
SECTION 2. That this Resolution shall be in full force and
effect from and after its passage and approval according to law.
PASSED
this
22nd
day
of
May
1984.
APPROVED
this
22nd
day
of
May
1984.
Charles J. Zettek
Village President
ATTEST:
Patricia S. Smith
Village Clerk
May 15, 1984
Ct.:1,
TO: Charles A. Willis, Village Manager rVINY 2 J 1484
C. trnz
FROM -
Ray L. Peterson, Village Engineer
SUBJECT: LETTER OF CREDIT EXTENSION
- GULLO INT'L. OFFICE & INDUSTRIAL CENTER
The attached Amendment to Standby Letter of Credit No. 16505
in the amount of $8,530.50 for the installation of bituminous
concrete surface course is hereby recommended for Village Board
approval. The original Letter of Credit had been previously approved
by the Village Board. I have reviewed the content of the Letter of
Credit Extension and find it to be in order. The expiration date is
extended to: May 15, 1985.
Attacchhment
cc:' illage Clerk's Office w/original
BY
IT'.
r
BIC
RESOLUTION NO. 21-83
A RESOLUTION ACCEPTING AND PLACING ON FILE THREE (3) IRREVOCABLE
STANDBY LETTERS OF CREDIT (REPLACING THE PERFORMANCE BOND FROM
PEERLESS INSURANCE CO. ADOPTED BY RESOLUTION NO. 1-80) FROM THE
BANK OF ELK GROVE NO. 1650, $8,530.50; NO. 1651, $25,230; AND
NO. 1652, $16,500; GUARANTEEING THE CONSTRUCTION OF PUBLIC IM-
PROVEMENTS IN THE GULLO INTERNATIONAL OFFICE AND INDUSTRIAL
CENTER SUBDIVISION NORTH OF OAKTON STREET
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 and placing on file three (3) Letters of Credit totaling
$51,260.50 from the Bank of Elk Grove, guaranteeing the construction of
public improvements: sidewalk work, streets, curbs, water mains, sanitary
sewers, storm sewers, and street lights in the development known as Gullo
International Office and Industrial Center in accordance with the plans and
specifications prepared by the Chia Company, 5732 Gardner Court, Hanover
Park, Illinois and approved on October 11, 1979. Letters of Credit No.
1650 expires May 18, 1984, No. 1651 and No. 1652 expire May 15, 1985.
SECTION 2: That this Resolution shall be in full force and effect
from and after its passage and approval according to law.
PASSED
this
22nd
day
of
March
1983•
APPROVED
this
22nd
day
of
March
1983•
Village President
ATTEST:
Village Clerk