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ORDINANCE N0. O <br />AN ORDINANCE AUTIIORIZING THE VILLAGE PRESIDENT AND <br />THE VILLAGE CLERK TO EXECUTE AN AGREEMENT RESCINDING <br />THE AGREEMENT CREATING THE RETIREMENT PENSION AND <br />DEATH BENEFIT PLAN - WILLIAM ULKE - AND SURRENDER- <br />ING THE WHOLE LIFE INSURANCE POLICY ESTABLISHED <br />THEREIN <br />WHEREAS, the President and Board of Trustees by Ordinance No. <br />1021-1975, entered into a Pension Agreement with William A. Ulke <br />known as Retirement Pension and Death Benefit Plan - William A. <br />Ulke, which agreement provided for the establishment of a Whole <br />Life Insurance Policy on the life of William A. Ulke, due to Officer <br />Ulke's inability to obtain entry into the Police Pension Fund, at <br />the time of its enactment; and, <br />WHEREAS, the Statutes of the State of Illinois had been amended <br />and Officer Ulke presently qualifies for coverage under said Police <br />Pension Fund. <br />NOW, THEREFORE, BE IT ORDAINED by the President and Board of <br />Trustees of the Village of Elk Grove Village, Cook and DuPage <br />Counties, Illinois, as follows: <br />Section 1. That the Village President and Village Clerk are <br />hereby authorized to enter into an agreement, a copy of which is <br />attached hereto and incorporated herein, rescinding the prior agreement <br />dated September 23, 1975 between the Village and Officer William A. <br />Ulke. <br />Section 2. That the Whole Life Insurance Policy previously <br />contracted for with the Connecticut Mutual Life Insurance Company <br />and known as Policy No. 3,029,107 be cancelled as of this date hereof <br />for its present cash surrender value plus dividends earned and pre- <br />paid premiums. <br />