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RESOLUTION NO. 98-86 <br /> A RESOLUTION ACCEPTING AN IRREVOCABLE LETTER OF CREDIT NO. <br /> 311218 FROM THE FIRST NATIONAL BANK OF CHICAGO EXPIRING <br /> DECEMBER 31, 1987 IN THE AMOUNT OF $70,000.00 TO GUARANTEE <br /> COMPLETION OF PUBLIC IMPROVEMENTS AT RBC TECH CENTER II <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 autho- <br /> rize the acceptance of an Irrevocable Letter of Credit No. 311218 from <br /> the First National Bank of Chicago in the amount of $70,000.00 to guarantee <br /> the completion of public improvements at the RBC Tech Center II as fully <br /> described in Exhibit "A" attached hereto and made a part hereof in accor- <br /> dance with approved plans and specifications with revisions dated November <br /> 18, 1986, prepared by Elk Grove Engineering Co. , 860 Lively Blvd. , Elk <br /> Grove Village, Illinois. Said Letter of Credit expiring December 31, 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 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 />