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RESOLUTION NO. 96-86 <br /> A RESOLUTION ACCEPTING AN IRREVOCABLE LETTER OF CREDIT NO. <br /> IMPDC1008/862595G FROM BANK OF MONTREAL EXPIRING JANUARY 31, <br /> 1989 IN THE AMOUNT OF $307, 144.00 TO GUARANTEE INSTALLATION OF <br /> PUBLIC IMPROVEMENTS MARK STREET PROJECT LOTS 2 & 3 <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 do hereby <br /> authorize the acceptance of an Irrevocable Letter of Credit Number <br /> IMPDC1008/862595G from Bank of Montreal in the amount of $307, 144.00 <br /> to guarantee completion of public improvements of Mark Street Project <br /> Lots 2 and 3 in accordance with approved plans and specifications dated <br /> August 27, 1986 prepared by Machris Engineering, 2500 West Higgins Road, <br /> Hoffman Estates, Illinois 60195. Said letter of credit expiring <br /> January 31, 1989. <br /> Section 2: That this Resolution shall be in full force and <br /> effect from and after it passage and approval according to law. <br /> PASSED this 16th day of December 1986. <br /> APPROVED this 16th day of December 1986. <br /> Charles J. Zettek <br /> Village President <br /> ATTEST <br /> Patricia S. Smith <br /> Village Clerk <br />