R-13-12 Res Authorizing Lette of Credit Reduction/Prairie KnollVILLAGE OF LEMONT
RESOLUTION NO.�
A RESOLUTION AUTHORIZING LETTER OF CREDIT REDUCTION
FOR PRAIRIE KNOLL SUBDIVISION
ADOPTED BY THE
PRESIDENT AND BOARD OF TRUSTEES
OF THE VILLAGE OF LEMONT
THIS 27TH 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 27th day of February, 2012
RESOLUTION. NO.
A RESOLUTION AUTHORIZING LETTER OF CREDIT REDUCTION
FOR PRAIRIE KNOLL 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 Prairie Knoll subdivision located at 15266
127th Street in Lemont, Irrevocable Letter of Credit No. 2053 was issued by Heritage
Bank Schaumburg in the amount of amount of $52,500.00, and deposited with the
Village of Lemont to guarantee completion of subdivision improvements; and
WHEREAS, Mr. Albert J. Kerelis, Jr., developer of Prairie Knoll subdivision,
has completed certain improvements and has requested a reduction in the Letter of Credit
No. 2053; 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. 2053 is hereby
reduced to the amount of $44,000.00.
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 February, 2012.
Debby Blatzer
Paul Chialdikas
Clifford Miklos
AYES NAYS PASSED ABSENT
v
Ron Stapleton
Rick Sniegowski
Jeanette Virgilio
ATTEST:
v
APPROVED by me this 27th day of February, 2012
BRIAN K. REAVES, Village President
CHARLENE M. SMOLLEN, Village Clerk