1957-1449r~~
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RESOLUTION NO• t449
RESOLUTION RELATINGi TO BOND ~V 4FF•STREET PARKINQ
D-x SuNRAY 0!L COMPANY
WATERLOOy IOWA
6445 ANN AVENUE SOUTH
USE! (~ISOLINE SERVICE STATION
1lWEREAS~ {IrX SUNRAY Ott COMPANY HAa AN OF'F$TREET PARKING AGREEMENT WITH THtB
VILLAGE RELATING TO 6445 PENN AVENUE SOUTH WWiCW CONTRACT BF,ARe THE DESIGNATION Ott'
CONTRACT NO. 350 AND 1~FIICM CONTRACT WAS GUARANTEED 8Y A 80ND OF THE FEDERAL INSURANCE
COMPANYt 90 JOHN STREETS NEW YORK N• Y•= IN THE SUM OF ~l~000+00~ AND
WtEREASi SAID D-X SUNRAY Olt COMPANY, HA8 SUBSTANTIALLY COMPLIED WlTW THE PROVIStON$
OF SAID AGREEMENT AND THE FEDERAL INSURANCE COMPANY 90 JOHN STREETS NEW YORK N•.Y•
NOW SEEKS TO 8E RELIEVED OF ANY FURTHER OBLIGATfON UNDER SAID 80ND~ AND
WH£REAS~ TWERE APPEARS TO BE NO JUSTIFICATION FOR REQWRiNG 8AlD 0-X SUNRAY OIL
COMPANY TO CONTINUE TO PROVIDE A BOND FOR SECURITY ON THE PERFORMANCE OF SAID AGREEMENT
NO1N THEREFORE BE IT RESOLVED BY THE VILLAt3E COUIUCiL OF THE VILLAGE OF RICHFIELD
MINNESOTAi AS FOL.L~II$i
THAT THE VILLAGE MANAGER iS HEREBY AUTWORIZED AND DIR£CTEO TO RELEASE TF~ FEaERAL
INSURANCE COMPANY FROki LIABILITY FOR ANY AND ALL ACTS OF THE D»X SUNRAY OIL COMPANY
COMMITTED CR INCURRED IN VOILATION OF SAID CONTRACT NO. 350 ON AND AFTER THE 12TH DAY OF
NOVEMBERS i957i
.ADOPTED BY THE VILLAGE COUNCIL OF THE VILLAGE OF RICHFIELD THIS 12TW DAY OF NOVEMBER
1957
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