R-114-00RESOLUTION NO. 6 I Lf 'DO
RESOLUTION AUTHORIZING LETTER OF CREDIT REDUCTION
FOR KENSINGTON ESTATES 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 Kensington Estates Subdivision an Irrevocable Letter of
Credit #1116 in the amount of $1,082,651.00 was deposited with the Village of Lemont on
August 1, 2000; and
WHEREAS, Edward Mansell, has made application for a reduction of the Irrevocable
Letter of Credit #1116 in the amount of $773,544.06; 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: Preliminary approval pursuant to the Lemont Subdivision Control
Ordinance is hereby granted for the improvements identified in Attachment A and attached hereto.
SECTION 2: The Irrevocable Letter of Credit #1116 is hereby reduced to $309,106.94.
NOW, THEREFORE BE IT RESOLVED by the President and Board of Trustees of the
Village of Lemont that the Irrevocable Letter of Credit #1116 for Kesington Estates Subdivision
is hereby reduced to $309,106.94.
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 day of 2000.
John Benik
Debby Blatzer
Keith Latz
Connie Markiewicz
Rick Rimbo
Mary Studebaker
Approved by me this day of
AYES NAYS PASSED ABSENT
c%
11 4/ ... (
HARLENE M. S • LLEN, Village Clerk
2000.
NESKI, Village President