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RESOLUTION NO. 4-82 <br />A RESOLUTION ACCEPTING A LETTER OF CREDIT IN THE AMOUNT OF $10,000.00 <br />FROM CONTINENTAL BANK TO INSURE THE FAITHFUL PERFORMANCE BY GRANTEE, <br />WARNER AMEX CABLE COMMUNICATIONS COMPANY OF ALL PROVISIONS OF THE <br />FRANCHISE AS SET FORTH IN ORDINANCE NO. 1448 OF THE VILLAGE OF ELK <br />GROVE VILLAGE <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 Village President and Board of Trustees do hereby <br />authorize acceptance of a Letter of Credit No. 6168171 from Continental Bank <br />in the amount of $10,000.00, pursuant to the provisions of Ordinance No. 1448 <br />adopted by the Village Board on April 14, 1981, wherein said ordinance requires <br />said Letter of Credit shall be used to insure the faithful performance of the <br />grantee, Warner Amex Cable Communications Company,of all provisions of the <br />franchise and of this ordinance, and compliance with all permits and directions <br />of the Board of the Village, and the payment by the Grantee of any penalties, <br />claims, liens and taxes due the Village, the Agency, or other governmental <br />entities which arise by reason of the construction, operation or maintenance <br />of said system. Said Letter of Credit expiring September 16, 1986. <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 <br />day of <br />January 1982. <br />APPROVED this 12th day of January 1982. <br />Charles J. Zettek <br />Village President <br />ATTEST: <br />Fay M. Bishop <br />Village Clerk <br />