Laserfiche WebLink
RESOLUTION NO. 32-86 <br />A RESOLUTION ACCEPTING AN IRREVOCABLE LETTER OF CREDIT <br />FROM ARLINGTON FEDERAL SAVINGS AND LOAN ASSOCIATION IN <br />THE AMOUNT OF $83,100.00 TO GUARANTEE COMPLETION OF <br />PUBLIC IMPROVEMENTS IN BETTER LIVING SUBDIVISION <br />NOW, THEREFORE, BE IT RESOLVED by the President and Board of <br />Trustees of the Village of Elk Grove Village, Counties of Cook and DuPage, <br />State of Illinois: <br />Section 1: That the President and Board of Trustees do hereby <br />authorize the acceptance of an Irrevocable Letter of Credit from Arlington <br />Federal Savings and Loan Association in the amount of $83,100.00 to guarantee <br />the completion of public improvements in the Better Living Subdivision, the <br />legal description as fully described in Exhibit "A" attached hereto and <br />made a part hereof, and in accordance with engineering drawings and spec- <br />ifications with revisions dated March 18, 1986, prepared by Norman J. Tober- <br />man, 615 W. Rockwell, Arlington Heights, Illinois and approved by the Engineer- <br />ing Department of the Village of Elk Grove Village on April 14, 1986. Said <br />letter of Credit No. LC-EGV-1986-1 becoming effective March 21, 1986 and <br />expiring July 1, 1987. <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 22nd <br />APPROVED this 22nd <br />ATTEST. <br />Patricia S. Smith <br />Village Clerk <br />day of April , 1986. <br />day of April , 1986. <br />Charles J. Zettek <br />Village President <br />