1958-1740r-~
~~~
RESOLUT I ON N0. 17~A.
RESOLUTION RELATJN6 TO RELEASE OF BOND ON OFF-STREET PARKING
SCHMELZ BROTHERS
6527-29 PENN AVENUE SOUTH
LOCATION: 6527-29 PENN AVENUE SOUTH
USE: USED CAR LOT
WHEREAS, SCHMELZ BROTHERS HAD AN OFF-STREET PARKING AGREEMENT
WITH THIS VILLAGE RELATING TO 6527-29 PENN AVENUE SOUTH, WHICH CON• ,
TRACT BEARS THE OE9IGNATION OF CONTRACT N0. 387, AND WHICH CONTRACT
WA9 GUARANTHEO BY A BOND OF TWE ST. PAUL FIRE AND MARINE INSURANCE
COMPANY, A CORPORATION OF ST. PAUL, MINNESOTA, tN THE SUM OF $I,OOO.00,
AND
WHEREAS, SAID SCHMELZ BROTHERS 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 80ND, AND
WHEREAS, THERE APPEARS TO BE NO JUSTIFICATION FOR REQUIRING
SAID SCHMELZ BROTHERS TO CONTINUE TO PROVIDE A BONG-FOR SECURITY
ON THE pERFORMQNCE OF 3A10 AGREEMENT.
NOai THEREFORE, BE IT RESOLVED BY THE VILLAGE COUNCIL OF THE
VILLAGE OF RICHFIELD, MINNESOTA, AS FOLLOWS:
THAT THE VILLAQE MANAGER IS HEREBY AUTHORIZED AND DIRECTED TO
RELEASE THE S7. PAUL FIRE AND MARINE INSURANCE COMPANY FROM LIABILITY
FOR ;ENV AND ALL ACTS OF SCHMELZ BROTHERS COMMITTED OR INCURRED iN
VIOLATION OF SAID CONTRACT N0. 367 ON ANO AFTER THE 24TH DAY OF NOV-
EMBER, 1958. ~'
/ ~ .~'
ATTEST: (RViN4 R. KELDSEN, MAYOR
EDWARD J. M0~ VILLAQE CLERK
0. R. KREVELEN, MANAGER