R-26-09 Resolution LOC Reduction Krystyna CrossingVILLAGE OF LEMONT
RESOLUTION NO. k - a (O " Coq
RESOLUTION AUTHORIZING LETTER OF CREDIT REDUCTION
FOR KRYSTYNA CROSING SUBDIVISION
ADOPTED BY THE
PRESIDENT AND BOARD OF TRUSTEES
OF THE VILLAGE OF LEMONT
THIS 20TH DAY OF APRIL, 2009
Published in pamphlet form by
authority of the President and
Board of Trustees of the Village of
Lemont, Cook, Will and DuPage Counties,
Illinois on this 20th day of April, 2009.
RESOLUTION NO.
RESOLUTION AUTHORIZING LETTER OF CREDIT REDUCTION
FOR KRYSTYNA CROSSING SUBDIVISION
WHEREAS, pursuant to the Unified Development Ordinance, an owner or developer of
a subdivision is required to deposit certain security or evidence thereof with the Village of
Lemont to guarantee the installation of public improvements; and
WHEREAS, in the matter of Krystyna Crossing Subdivision, located at 15002, 15008
and 15070 127th Street in Lemont, on August 7, 2007, Irrevocable Letter of Credit No. 12053
issued by Standard Bank and Trust Company in the amount of $1,224,033.38, was deposited
with the Village of Lemont to guarantee public improvements; and
WHEREAS, Andrzej L. Bednarczyk, owner and developer of the subdivision, has made
application for a reduction in Letter of Credit No. 12053; and
WHEREAS, a duly authorized agent of the Village of Lemont has inspected certain
portions of the improvements and has found these portions to have been satisfactorily installed;
NOW, THEREFORE BE IT RESOLVED by the President and Board of Trustees of
the Village of Lemont that Letter of Credit No. 12053 is hereby reduced to $400,000.00.
PASSED AND APPROVED BY THE PRESIDENT AND BOARD OF TRUSTEES
OF THE VILLAGE OF LEMONT, COUNTIES OF COOK, WILL, AND DU PAGE,
ILLINOIS, on this 20th day of April, 2009.
Debby Blatzer
Peter Cowles
Clifford Miklos
Brian Reaves
Ron Stapleton
Jeanette Virgilio
AYES NAYS PASSED ABSENT
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APPROVED by me this 20th day of April, 2009.
JOHN . PIAZZA, Vi lag= -sident
ATTEST:
CHARLENE M. SMOLLEN, Village Clerk
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