1960-2074r~~
[8ES0lUTION N®o 207
RESOLUTION RELATING TO RELl~SE OF BOND ON OFFwTREET PARKING
SINCLAIR REFINING C0~
600 ~JTH AVENUE
NEw YoRKB NEW YORK
LOOATIONS 6420 LYNDALE AVENUE SoUTW
USES GASOLINE SER~mICE STATION
WHEREASa SINCLAIR REFINING COA HAD AN OFF~6 TREET PARKING AGREEMENT WITH THIS VILLAGE
RELATING TO 6920 LYNDALE AVENUE SOUTHs WHICH OONTRACT BEARS THE DESIGNATION OF CONTRACT
NOe 41$~ AND WHICH CONTRACT wA5 GUARANTEED $Y A BOND OF THE FEDERAL INSURANCE COMPANY'
A NEW JERSEY CORI'OR~TION9 NEW YoRKa NEw Y®RK, IN THE aUM OF ~Ia000m00 ANa
WFIEREAS9 8AID SINCLAIR REFINING CO® HAS SUBSTANTIALLY COMPLIED WITH THE ~tOVIS10N8
OF SAID AGREEMENT AND THE FEDERAI. INSURANCE COMPANYe A NEw JERSEY CORPORATIONa NEW YORKS
NEw YORKa NOW SEEKS TO BE RELIEVED OF ANY FURTHER OBLIGATION UNDER 8AID BONDS AND
WHEREASD THERE APPEARB TO BE NO sIUSTIFICATION FOR REQUIRING SAIG SINCLAIR REFINING
COo TO CONTINUE TO PROVIDE A BOND FOR SECURITY ON THE PERFOMANCE OF SAID AGREEMENT•
NOW 7HEREFORE~ BE IT RESOLVED BY THE VILLAGE C®t~vG9e,o OF THE VILLAGE of RIGHFIELDg
MINNESOTA9 AS FOLLOwSB
THAT THE VILLAGE MANAGER IS HEREBY AUTHORISED AND DIRECTED TO RELEASE THE FEDERAL
INSURANCE COMPANY FROM LIAE31L1TY FOR ANY AND ALL ACTS OF SINCLAIR REFINING COo COMMITTED
OR INCURRED IN VIOLATION OF SAID CONTRACT NOa q~l$ ON AND AFTER THE 8TH DAY OF FEBRUARY
1960 ~,
ADOPTED SY THE VILLAGE COUNCIL OF THE VILLAGE OF RICHFIELD THIS STH DAY OF FEBRUARY
1960a
ATTEST
~~~
~%~'
VILLA GE CLE
MAMA R