79-6100Ri2o
RESOLUTION NO. 6100
RESOLUTION RELATING TO RELEASE OF BOND ON OFF-
STREET PARKING
' Dayton Development Company
4005 West 65th Street
Location: 2904 to 3020 W. 66th Street
Use: Shopping Center. (Southdale Sauare)
WHEREAS, the Dayton Development Company, 4005 West 65th Street,
Minneapolis, Minnesota,-had an Off-Street Parking, Agreement with the City
of Richfield relating: to 2904 to 3020 West 66th Street (Southdale.
Square), which contract bears the designation of Contract No. 504, and
which contract was guaranteed by a bond of the St. Paul Fire and
Marine. Insurance Company of St. Paul, Minnesota, in the sum of
Three Thousand ($3,000) Dollars, and
WHEREAS, said Dayton Development Company has substantially complied
with the provisions of said agreement and the St. Paul Fire and Marine
Insurance Company now seeks to be relieved of any further obligation
under said bond, and
WHEREAS., there appears to be no justification for requiring said
Dayton Development Company to continue to provide a bond for security
on the performance of said agreement.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Richfield, Minnesota, as follows:
That the City Manager is hereby authorized and directed to release
the St. Paul Fire and Marine Insurance Company for any and all acts of
Dayton Development Company, committed or incurred in violation of said
Contract No. 504, on and after the 25th day of June, 1979.
Adopted by the City Council of the City ichfield this 25th day
of June, 1979..
ATTEST: L en L. a Mayor
Thomas J. ran City Clerk