1961-2493r~~~
RESOLUTION N0. 2493
RESOLUTION RE EATING TO RELEASE OF BOND ON OFF=STREET PARKING
LYLE Co OTTO
670) PENN AVENUE
LOCe 7526-44 OLIVER AVENUE SOUTFI
USE: THREE 7-UNIT I~BEDROOM APT, BLDGS,
WHEREASy LYLE Ce OTT09 6708 PENN AVENUEy HAD AN OFFmSTREET PARKING
AGREEMENT WITH TH13 VILLAGE RELATING TO 7526-44 OL11iER AVENUE SOUTWp WHICH
CONTRACT BEARS THE DESIGNATION OF CONTRACT NOo 5238 AND WHICH CONTRACT WAS
GUARANTEED BY A BOND OF THE WESTERN SURETY COMPANYy SIOUX FA LLS~ SOUTH DAKOTAS
IN THE SUM OF ~4y300e00
WHEREAS SAID LYLE Ce OTTOy HA3 SUBSTANTIALLY COMPLIED WOTH THE PROVISIONS
OF SAID AGREEME NT AND THE WESTERN SURETY COMPANY NOW SEEKS TO BE RELIEVED OF
ANY FURTHER OBLIGATION UNDER SAID BONDg AND
WHEREAS9 THERE APPEARS TO BE NO JUSTIFICATION FOR REQUIRING LYLE Co OTTO
TO CONTINUE TO PROVIDE A BOND FOR SECURITY ON THE PERFORMANCE OF SAID AGREEm
ME NT s
NOW THEREFOREa BE IT RESOLVED BY THE VILLAGE COUNCIL OF THE VILLAGE OF
RIGWFIELDa MINNESOTA AS FOLLOWS:
THAT THE VILLAGE MANAGER 19 HEREBY AUTHORIZED AND DIRECTED TO RELEASE
THE WESTERN SURETY COMPANY FROM L1ABfLITY FOR ANY AND ALL ACTS OF LYLE Co WTTld
COMMIT`VED OR INCURRED IN VIOLATION OF SAID CONTRACT N0, 5238 ON AND AFTER THE
10TH OF JULYg 1610.
ADOPTED BY THE VILLAGE COUNCIL OF THE VILLAGE OF RICHFIELD THIS 10TH DAY
®F JULYa 1961.