1960-2182rt:
~.~~
RESOt,UT i ON N 0. 2182
RESOLUTION RE UITING TO RELEASE OF BOND ON SURFAGIN G
66TH STREET BETWEEN PENN AVENUE AND~XERXES AVENUE,,
SOUTMDAtE C~NTERs INC•
wHEREAS~ SOUTHDALE CENTERS INC+~ HAD AN ApREEMENT WITH THIS VILLApE RELATINp
TO THE SURFACINp OF 66TH STREET FROM PENN'AVElVUE TO XERXE$ AVENUEy WHICH CONTRACT
WAS tSUARANTEED BY A BOND OF THE CHARLES W• SEXTON COMPANY' MC14Vipt~T BUILDINp~
MINNEAPOLIS I~ MiNNE80TA~ 1N tiFtE SUM OF ~18sq~60.84s AND
WHEREAS SAID SOUTWDALE CENTERS INOy HAS SUBSTANTIALLY COMPLIED WITH THE
PROV1810N8 OF SAiD AdREEMENT AND THE CHARLES W• SEXTON COMPANY NOW SEEKS TO BE
RELIEVEp OF ANY FURTHER OBLIpAT10N UNDER SAID ®OND~ AND
WHEREAS THERE APPEARS TO BE NO dUSTIFIQATiON FOR REQUIR1Np SAID SOUTHDALE
1
CENTERS INC y TO CONTINUE TO PROVIDE A BOND FOR SECURITY ON THE PERFORMANOE OF
SAiO AQREEMENT•
NOW THERE~'ORE~ BE IT RESOLIlEO BY THE VILLAGE COUNCIL OF THE VILLApE OF RICH
FIELD' MINNESOTA, AS FOLLOWSL
THAT THE VILLA4E MANAQER 18 HEREBY AUTHORIZED AND DIREOTED TO RELEASE THE
1
CHARLES Yl• SEXTON CO• FROM LIABILITY FOR ANY AND ALL ACTS OF SDUTHDALE CENTERe (NCos
OOMMITTED OR INCURRED IN VIOLATION OF SAID'CONTRACT ON AND AFTER THE 23RD DAY OF
MAYS I960~
ADOPTED BY TftL VILLApE COUNCIL. OF THE 'VILLApE OF RICHFIELD THIS 2SRD bAY OF
MAYS I960~
P~ G
~IIPIYOR
ATTESTt
VtL GE CLERK
MANA R