R-36-05 Authorizing Letter Of Credit Reduction For Cal Sag 83 Office Building LLCVILLAGE OF LEMONT
RESOLUTION NO.
R-3(0-°`-'1
A RESOLUTION AUTHORIZING LETTER OF CREDIT REDUCTION
FOR CAL SAG 83 OFFICE BUILDING LLC
(Meno Stone)
APPROVED BY THE
PRESIDENT AND THE BOARD OF TRUSTEES
OF THE VILLAGE OF LEMONT
THIS 27TH DAY OF JUNE, 2005
PUBLISHED IN PAMPHLET FORM
BY AUTHORITY OF THE PRESIDENT
AND BOARD OF TRUSTIES OF THE
VILLAGE OF LEMONT, COUNTIES OF
COOK, WILL AND DUPAGE, ILLINOIS,
THIS 27Th DAY OF JUNE, 2005
RESOLUTION NO. R-310. v S
RESOLUTION AUTHORIZING LETTER OF CREDIT REDUCTION
FOR CAL SAG 83 OFFICE BUILDING LLC
(Meno Stone)
WHEREAS, pursuant to the Subdivision Regulations, 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 such improvements; and
WHEREAS, in the matter of Cal Sag 83 Office Building LLC, located at 10800 Route 83, First
United Bank deposited Irrevocable Letter of Credit # 101 -247 in the amount of $44,620.00 with the
Village of Lemont on May 18, 2004; and
WHEREAS, Meno Stone, owner of said Cal Sag 83 Office Building LLC, has made application
for a reduction of the Irrevocable Letter of Credit #101 -247 in the amount of $22,620.00, bringing the
balance to $20,000.00; and
WHEREAS, a duly authorized agent of the Village of Lemont has inspected certain portions of
the improvement 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 Irrevocable Letter of Credit #101 -247 for Cal Sag 83 Office Building LLC is
hereby reduced to $20,000.00.
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 27th day of June, 2005.
Debby Blatzer
Peter Coules
Clifford Miklos
Brian Reaves
Ron Stapleton
Jeanette Virgilio
AYES NAYS PASSED ABSENT
V
V
V
APPROVED by me this 27th day of June, 2005.
OHN F. PIAZZA, ' age President
ATTEST:
CHARLENE M. SMOLLEN, Village Clerk
L: \COMMUNITY DEVELOPMENT DEPT\LETTERS of CREDIT \Meno- CalSag -LOC Reduction.wpd