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RESOLUTION NO. 40-86 <br />A RESOLUTION ACCEPTING AN IRREVOCABLE LETTER OF CREDIT NO. <br />D 2549 IN THE AMOUNT OF $2,600.00 EXPIRING DECEMBER 30, 1986 <br />FROM CENTERRE BANK OF KANSAS CITY TO GUARANTEE COMPLETION OF <br />PUBLIC IMPROVEMENTS FOR LA PETITE ACADEMY (LOT 2 OF FORD CITY <br />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 <br />DuPage, 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 No. D 2549 <br />from Centerre Bank of Kansas City in the amount of $2,600.00 to guar- <br />antee completion of Public Improvements in accordance with approved plans <br />and specifications with revisions dated April 16, 1986 prepared by <br />Christian-Roge & Ribando, 518-B South Lake Street, Aurora, Illinois <br />60506, approved on April 18, 1986 and agreements including any amend- <br />ments thereof on property legally described on Exhibit "A". Said letter <br />of credit expires December 30, 1986. <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 10th day of June 1986. <br />APPROVED this 10th day of June 1986. <br />Charles J. Zettek <br />Village President <br />ATTEST: <br />Patricia S. Smith <br />Village Clerk <br />