R-08-12 Authorizing Letter of Credit Reduction-Krystyna CrossingVILLAGE OF LEMONT
RESOLUTION NO.
A RESOLUTION AUTHORIZING LETTER OF CREDIT REDUCTION
FOR KRYSTYNA CROSSING SUBDIVISION
ADOPTED BY THE
PRESIDENT AND BOARD OF TRUSTEES
OF THE VILLAGE OF LEMONT
THIS 13TH DAY OF FEBRUARY, 2012
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 13th day of February, 2012
RESOLUTION NO.
A RESOLUTION AUTHORIZING LETTER OF CREDIT REDUCTION
FOR KRYSTYNA CROSSING SUBDIVISION
WHEREAS, pursuant to the Lemont Unified Development Ordinance of 2008,
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 subdivision
improvements; and
WHEREAS, in the matter of the Krystyna Crossing subdivision located at 15070
and 15884 127th Street in Lemont, Irrevocable Letter of Credit No. 2011 -650 was issued
by State Bank of Countryside in the amount of amount of $469,819.00, and deposited
with the Village of Lemont to guarantee completion of subdivision improvements; and
WHEREAS, Ms. Ann Bell, representing Castletown Homes, Inc., owner of
Krystyna Crossing subdivision, has requested a reduction in the Letter of Credit No.
2011 -650 in the amount of $125,600.00, resulting in a new balance of $344,219.00; and
WHEREAS, the Village Engineer 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 No. 2011 -650 is
hereby reduced to the amount of $344,219.00.
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 13th day of February, 2012.
Debby Blatzer
Paul Chialdikas
Clifford Miklos
AYES NAYS PASSED ABSENT
V
t/
Ron Stapleton
Rick Sniegowski
Jeanette Virgilio
ATTEST:
V
V
APPROVED by me this 13th day of February, 2012
BRIAN K. REAVES, illage President
CHARLENE M. SMOLLEN, Village Clerk