1958-1691r
RESOLUTION N0. lsgj
RESOLUTION RELATING TO RELEASE OF BOND ~N OFF-STREET PARKING
SHELL OIL COMPANY
100 NORTH 7TH STREET
LOCATION: 6645 LYNOALE AVENUE SOUTH
USE: GASOLINE SERVICE STATION
WHEREAS, SHELL OIL COMPANY HAD AN OFF~STREET PARKING AGREEMENT
WITH TWiS VILLAGE RELATING TO 6645 LYNDAL£ AVENUE SOUTH, WHICW CONTRACT
BEARS THE DESIGNATION OF CONTRACT NO. 417, AND WHICH CONTRACT WAS GUAR-
ANTEED BY A BOND OF THE FEDERAL INSURANCE COMPANY IN THE SUM OF $I,QOO.OO,
AND
WHEREAS, SAID SHELL OIL COMPANY WAS SUBSTANTIALLY COMPLIED WIThI TWE
PROVISIONS OF BA ID AGREEMENT AND THE FEDERAL INSURANCE COMPANY NOW SEEKS
TO BE RELIEVED OF ANY FURTHER OBLIGATION UNDER SAID BONG, AND
tmHEREA3, THERE APAEARS TO BE NO JUSTIFICATIQN FOR REQUIRING SA10
SHELL OtL COMPANY TO CONTINUE TO PROVIDE A BOND FOR SECURITY ON THE
PEf3FORMANCE OF SAID AGREEMENT,
N04J THEREFORE, BE I T RESQLVEO BY TWE V 1 LLA(iE COUNC 1 {. OE THE V 1 LLAGE
OF RICHFIELD, MINNESOTA, AS FOLLOWS:
THAT THE VILLAGE MANAGER 18 HEREBY AUTHORIZED AND DIRECTED TO RE-
LEASE THE FEDERAL INSURANCE COMPANY FROM LIABI-CITY FOR ANY AND ALL ACTS
OF Si-iELL OIL COMPANY COMMITTED OR INCURRED IN VIOLATION OF SAID CONTRACT
NO. 417 ON AND AFTER TWE 13TH DAY OF OCTOBER, 1958.
ADOPTED BY THE VILLAGE COUNCIL OF THE VILLAGE OF RICHFIELD Tt113
13TH DAY OF OCTOBER, 1958,
~-
I V I NO ELI3SEN, AYOR
ATTEST:
•i 0. , REV ENS ANAGER
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Y~ -~~~
DWARO OL ~ I CAGE CLERK