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RESOLUTION NO. 57-91 <br /> A RESOLUTION AMENDING LETTER OF CREDIT NO. SPL30433 <br /> FROM HARRIS BANK IN THE AMOUNT OF $404,629.00 EXPIRING <br /> MAY 1, 1992 TO GUARANTEE COMPLETION AND INTERIM MAINTENANCE <br /> OF PUBLIC IMPROVEMENTS FOR TALBOT'S MILL SUBDIVISION <br /> (DEVON/I-290) <br /> NOW, THEREFORE, BE IT RESOLVED by the President and Board of Trustees <br /> of the Village of Elk Grove Village, Counties of Cook and DuPage, State of <br /> Illinois: <br /> Section 1: That the President and Board of Trustees amend <br /> Irrevocable Letter of Credit No. SPL30433, previously accepted by <br /> Resolution No. 4-90, from the Harris Bank by decreasing the amount of <br /> $964,605.00 to $404,629.00 to guarantee completion and interim maintenance <br /> of Public Improvements for Talbot's Mill Subdivision in accordance with the <br /> Engineering plans and specifications with revisions dated May 5, 1989, <br /> prepared by Fletcher Engineering, approved on April 12, 1989 and agreements <br /> (including any amendment thereof) . Said Letter of credit expiring May 1, <br /> 1992. <br /> Section 2: That this Resolution shall be in full force and effect <br /> from and after its passage and approval according to law. <br /> PASSED this 26th day of November 1991. <br /> APPROVED this 26th day of November 1991. <br /> Charles J. Zettek <br /> Village President <br /> ATTEST: <br /> Patricia S. Smith <br /> Village Clerk <br />