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i <br /> RESOLUTION N0. 76-84 <br /> A RESOLUTION ACCEPTING A LETTER OF CREDIT IN THE AMOUNT OF $10,000.00 <br /> FROM THE FIRST NATIONAL BANK OF CHICAGO TO INSURE THE FAITHFUL PERFOR- <br /> MANCE BY GRANTEE, AMERICAN CABLESYSTEMS OF ILLINOIS OF ALL PROVISIONS <br /> OF THE FRANCHISE AS SET FORTH IN ORDINANCE NO. 1448 AND RESOLUTION NO. <br /> 46-81 AS AMENDED BY RESOLUTION NO. 70-84 <br /> NOW, THEREFORE, BE IT RESOLVED by the President and Board of Trustees of the <br /> Village of Elk Grove Village, Counties of Cook and DuPage, State of Illinois: <br /> Section 1: That the Village President and Board of Trustees do hereby <br /> authorize the acceptance of a Letter of Credit No. 305810 from The First Nation- <br /> al Bank of Chicago in the amount of $10,000.00, pursuant to the provisions of <br /> Ordinance No. 1448 adopted by the Village Board on April 14, 1981, wherein said <br /> Ordinance requires said Letter of Credit shall be used to insure the faithful <br /> performance of the grantee, American Cablesystems of Illinois, of all provisions <br /> of the franchise and of this ordinance, and compliance with all permits and <br /> directions of the Board of the Village, and the payment by the Grantee of any <br /> penalties, claims, liens and taxes due the Village, the Agency, or other <br /> governmental entities which arise by reason of the construction, operation of <br /> maintenance of said system. Said Letter of Credit expiring October 22, 1989. <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 13th day of November 1984. <br /> APPROVED this 13th day of November 1984. <br /> Charles J. Zettek <br /> Village President <br /> ATTEST: <br /> Patricia S. Smith <br /> Village Clerk <br />