1961-2620r~~
RESOLUTION N0. 2620
RESOLUTION RELATING TO RELEASE OF BOND ON OFF-STREET PARKING
SDCONY Nbett OIL COMPANYS INC•
606 VANDALIA STREETS ST. PAULS MINN•
LOCATIONi 731 WEST 66TH STREET
USEt GASOLINE SERVICE STATION
WHEREASS SOCONY MIiBIL OIL COMPANYS INC• HAD AN OFF-STREET PARKINQ AQREEMENT WITW THIS
VILLAQE RELATINQ TO 731 WEST 66TW STREETS WHICH CONTRACT BEAR 8 THE DESI(iVATION OF CONTRACT
NO• .~i31s AND WHICH CONTRACT WAS QUARANTEED BY A BOND OF THE UNITED PACIFIC INSURANCE COMPANYs
IN THE SUM OF t4s000S00s AND
WHEREASS SAID SOCONY MOBIL OIL COMPANYS INC,s HA8 SUBSTANTIALLY COMPLIED WITH Tk1E PRO-
V1810NS OF SA10 AQREEMENT AND THE UNITED PACIFIC INSURANCE COMPANY NOW SEEKS TO BE RELIEVED
OF ANY FURTHER OBLI.QATION UNDER SAID BONDS AND
WHEREASS THERE APPEARS TO BE NO JUSTIFICATION FOR REQUIRINQ SAID SoCONY MOBIL OIL
COMPANYS INC• TO CONTINUE T4~ PROVIDE A BOVD FOR SEOURITY ON THE PERFORMANCE ~ SAID AQREEMENTe
NOW THEREFORE ~ BE IT RESOLVED BY THE VILLA QE COUNCIL OF TWE VILLAQE OF RICHFIELDS MINN-
ESOTAS A 8 FOLLOWSS
THAT THE VILIAQE MANAGER IS HEREBY AUTHORIZED AND DIRECTED TO RELEASE THE UNITEO PACIFIC
INSURANCE COMPANY FROM b1ABILITY FOR ANY AND ALL ACTS OF SOCONY MOBIL OiL COMPANYS (NC•s
COMMITTED OR INCURRED IN VIOLATION OF SAID CONTRACT NO. 5315 ON AND AFTER THE 23RD DAY OF
OCTOBERS 1961.
ADOPTED BY THE VILLAQE COUNCIL OF THE VILLAQE OF RICHFIELD TH18 23RD DAY OF OCTOBER
1961,
MAYOR
ATTEST
~~~~~
V IUAG CLERK
~L ~'-
MANAGE