1961-2492r~~~
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`~ RESOLUTION ,N O. 2492
~` RESOLUTION RELATING TO RELEASE OF BOND ON OFF=STREET PARKING
LYLE C. OTTO
6701 PIeNN AVENtBE SOUTH
LOOS 7520 OLIYER AVENUE
USES ONE II>UNIT APARTMENT BLDG.
WHEREASg LYLE C. OTTO, 6701 PENN AVENUE SOUTHg HAO AN OFF>STREET
e
PARKING AGREEMENT WITH THOS VILLAGE RELATING TO 7520 OLIVER AVENUE SOUTHg
WHICH CONTRACT BEAR9 THE DESIGNATION OF CONTRACT NOe 5228 AND WHICH CO NTRAOT
WAS GUARANTEED BY A BOND OF THE WESTERN SURETY COMPANY, SIOUX FALLBg SOUTH
DAKOTA, 1N THE SUM OF $2,000e00
WHEREAS,. sAID LYLE C. OTTOg HAS SUBSTANTIALLY COMPLIED WITH THE PR®VISIONS
OF SABD AGREEMENT AND THE WESTERN SURETY COMPANY NOW SEEKS TO eE RELIEVED OF
ANY FURTHER OBLIGATION UNDER SAID BONDg AND
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WHEREAS, THERE APPEARS TO BE NO JUSTIFBCATION FOR REQUIRING LYB,E Co 4lTT®
TO CONTINUE TO PROVIDE A BOND FOR SECURITY ON THE PERFORMANCE OF SAID AGREE=
MEiNTo
NOW THEREFORE, BE IT RESOLVED BY THE VILLAGE COUNCIL of THE VIL~,AGE 0~
RIOHFIELDg MINNESOTA AS FOLLOWSs
THAT THE VILLAGE MANAGER IS HEREBY AUTHORIZED AND DIRECTED TO RELEASE
THE WESTERN SURETY COMPANY FROM LIABILITY FOR ANY AND ALL ACTS OF LYIaE Co 19TT0
COMMITTED OR INCURRED IN VIOLATION OF SAID CONTRACT NAo 522, ON AND AFTER THE
BOTH OF e$ULYg 1961e
AT'I~ESTs
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