R-17-00 02/28/2000RESOLUTION NO
RESOLUTION AUTHORIZING RELEASE
OF LETTER OF CREDIT
FOR HIRSEKORN RIDGE SUBDIVISION
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 Hirsekorn Ridge Subdivision, located on the north side of
McCarthy Road and west of Carriage Ridge Estates Units I & II in Lemont, Illinois, an Irrevocable
Letter of Credit #96 -458, State Bank of Countryside, in the amount of $1,275,997.56 was deposited
with the Village of Lemont on February 6, 1996 to cover remaining public improvements; and
WHEREAS, Jerry Miskovic, Laser Consulting Engineers, has made application for release
of the Irrevocable Letter of Credit #96 -458; 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:
SECTION 1: All site work covered under Letter of Credit #96 -458 has been satisfactorily
completed.
SECTION 2: The Irrevocable Letter of Credit #96 -458 is hereby released.
NOW,'1'HEREFORE BE IT RESOLVED by the President and Board of Trustees of the
Village of Lemont that the Irrevocable Letter of Credit #96 -458 for Hirsekorn Subdivision is hereby
released.
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 ii_day of J- ;JG4 -y, 2000.
John Benik
Debby Blatzer
Keith Latz
Connie Markiewicz
Rick Rimbo
Mary Studebaker
Approved by me this 1 116 day
At -st:
C ARLENE M. SMO EN, Village Clerk
AYES NAYS PASSED ABSENT
V
HARLENE M. SMOLLEN, Village Clerk
2000.
A. KWA —1 SKI, Village President
-- ,APPROVED AS TO FORM
V JOHN ANTONO OULOS, Village Attorney
LETTER OF CREDIT APPROVAL FORM
The Letter of Credit
Reduction in the amount of $ , leaving $
Release
is approved for
Public Works
1ommun1t)� /u /m1t
Subdivision
/F- (,) /
Date
Date
evelopment Date
kdministration
7/ G
Date
n r ,7.< f z
c/
�...
If reduction/release is okay, please sign and return to the Community Development Department.
If reduction/release is not approved, please note concerns /issues in right margin and return to
Community Development Department by 21-7 /' "
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