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Waukegan approves renewal of $1.404 million letter of credit tied to Yeoman Creek remediation
Summary
The committee authorized renewal of a $1,404,100 letter of credit with Old National Bank to satisfy the city’s EPA financial-assurance obligations related to the Yeoman Creek landfill remediation; treasurer gave historical background on the city’s long-term liability.
The Waukegan Finance and Purchasing Committee on July 21 authorized the city treasurer to renew a letter of credit for $1,404,100 with Old National Bank to meet the city's financial-assurance obligations related to the Yeoman Creek landfill remediation overseen by federal authorities.
City Treasurer (name given in meeting) provided a…
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