HomeMy WebLinkAboutRESOLUTION - 69-84 - 10/9/1984 - LOC AMENDMENT/REGENCY SQ PHASE II RESOLUTION NO. 69-84
A RESOLUTION ACCEPTING AND PLACING ON FILE AN AMENDMENT TO AN
IRREVOCABLE LETTER OF CREDIT FROM THE FIRST NATIONAL BANK OF
BLUE ISLAND NO. 14471 (EXPIRING JULY 3, 1985) IN THE AMOUNT OF
$22,385.00 TO GUARANTEE THE COMPLETION OF CONSTRUCTION AND
MAINTENANCE 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)
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 July 3, 1985,
to guarantee the completion of construction and maintenance of public improve-
ments 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 9th day of October , 1984.
APPROVED this 9th day of October , 1984.
Charles J. Zettek
Village President
ATTEST:
Ilafern Snick
Acting Village Clerk
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S6�EEpNGGepFIRST NATIONAL BANK
ANG OF BLUE ISLAND
13057 S.WESTERN AVENUE • BLUE ISLAND, ILLINOIS 60406 • 385-2200
September 26, 1984
William F. Geegan
Elk Grove Village
901 Wellington Avenue
Elk Grove Village, IL 60007
Dear Mr. Geegan;
As per your request, I have enclosed an amendment to Letter of
Credit #14471.
If I can be of further assistance, please do not hesitate to
call.
Sincerely,
Fran M. Girard
Credit Analyst
FMG
Enclosure
FIRST NATIONAL BANK
OF BLUE ISLAND.
13057 S. WESTERN AVENUE • BLUE ISLAND, ILLINOIS 60406 • 385-2200
IRREVOCABLE LETTER OF CREDIT
DATE OF AMENDMENT: October 3, 1984
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
amending Letter of Credit #14471 as follows:
a) The expiration date will be extended nine (9) months
from October 3, 1984 to July 3, 1985.
b) The amount of the Letter of Credit will be increased
from $20,350. 00 to $22,385.00.
All other terms and conditions of Letter of Credit #14471 will
remaining the same.
FIRST NATIONAL BANK OF BLUE ISLAND
BY
`EDWARD K. ALDWORTH, SENIOR VICE PRESIDENT