Laserfiche WebLink
RESOLUTION NO. 9-86 <br /> A RESOLUTION ACCEPTING A REPLACEMENT IRREVOCABLE LETTER OF CREDIT <br /> FROM THE TALMAN HOME FEDERAL SAVINGS AND LOAN ASSOCIATION OF <br /> ILLINOIS IN THE AMOUNT OF $31,700.00 TO GUARANTEE THE CONSTRUCTION <br /> OF PUBLIC IMPROVEMENTS IN SHENANDOAH SUBDIVISION PHASE I <br /> NOW, THEREFORE, BE IT RESOLVED by the President and Board of Trustees of <br /> the Village of Elk Grove Village, Counties of Cook and DuPage, State of Illinois: <br /> Section 1: That the President and Board of Trustees do hereby authorize <br /> the acceptance of an Irrevocable Letter of Credit from the Talman Home Federal <br /> Savings and Loan Association of Illinois in the amount of $31,700.00 to <br /> guarantee construction of public improvements in the Shenandoah Subdivision <br /> Phase I, the legal description as fully described in Exhibit "A" attached <br /> hereto and made a part hereof, and in accordance with engineering drawings and <br /> specifications with revisions dated November 5, 1984, prepared by Elk Grove <br /> Engineering, 860 Lively Boulevard, Elk Grove Village, Illinois 60007, which <br /> have been previously submitted to, and approved by the Engineering Department <br /> of the Village of Elk Grove Village. Said Letter of Credit becoming effective <br /> January 2, 1986 and expiring December 31, 1986 replacing Letter of Credit <br /> dated January 1, 1985. <br /> Section 2: That this Resolution shall be in full force and effect from <br /> and after its passage and approval according to law. <br /> PASSED this 28th day of January 1986. <br /> APPROVED this 28th day of January 1986. <br /> Charles J. Zettek <br /> Village President <br /> ATTEST: <br /> Patricia S. Smith <br /> Village Clerk <br />