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RESOLUTION 43-84 <br />A RESOLUTION ACCEPTING AN IRREVOCABLE LETTER OF CREDIT FROM <br />THE TALMAN HOME FEDERAL SAVINGS AND LOAN ASSOCIATION OF ILLINOIS <br />IN THE AMOUNT OF $155,488.98 TO GUARANTEE COMPLETION OF PUBLIC <br />IMPROVEMENTS IN THE CIRCLE BAY SUBDIVISION <br />NOW, THEREFORE, BE IT RESOLVED by the President and Board of Trustees <br />1 <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 from the <br />Talman Home Federal Savings and Loan Association of Illinois in the amount <br />of $155,488.98 to guarantee completion of public improvements in the Circle <br />Bay Subdivision as fully described in Exhibit "A" attached hereto and made <br />a part hereof in accordance with engineering plans and specifications with <br />revisions dated March 29, 1983, prepared by Applied Engineering Company, <br />1885 Hicks Road, Rolling Meadows, Illinois 60008, approved on April 4, 1983. <br />Said Letter of Credit becoming effective December 20, 1983 and expiring <br />March 26, 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 12th day of June , 1984. <br />APPROVED this 12th day of June , 1984. <br />Charles J. Zettek <br />Village President <br />ATTEST: <br />Ilafern Snick <br />Acting Village Clerk <br />