1961-2636r~~
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RESOLUTION NO• 2636
RESOLUTION RELATING TO RELEASE OF BOND ON OFF-STREET PARKING
E. N• FINNEY~ 6644 PENN AVENUE 5p®
LOCATIONS 6644 PENN AVENUE SOUTH
USEi GROCERY ANp IUdrAT STORE
WHEREASg Eo N• FINNEY~ 6544 PENN AVENUE SDUTNs HAD AN OFF~+STREET PARKING AGREE49ENT WITH
THIS VILLAGE RELATING TO 6644 PENN AVENUE SOUTHy WHICH CONTRACT BEARS THE DESIGNATION OF
CONTRACT Np• 554i AND WHICH CONTRACT WAS GUARANTEED BY A BOND of THE AETNA CASUALTY AND SURETY
CoMPANY~ A CpRPORATION OF HARTFORO~ CONNECTIGUT~ IN THE 8UM OF ~(,400o00s AND
WHEREA59 SAID E• N• FINNEY HAS SUBSTANTIALLY COMPLIED WI TH 7HE PROV1 SIONS OF SAID AGREE®
MENT AND 7WE AETNA CASUALTY AND SURETY COMPANY NOW SEEKS TO BE RELIEVED OF ANY FURTHER OBLLQATION
UNDER ~ I D BONDS AND
WHEREAS THERE APPEARS TO BE NO JUSTIFICATION FOR REQUIRINQ SAID Ee No FINNEY TO CONTINUE
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TO PROVIDE A BOND FOR SECURITY ON THE PERFORMANCE OF SAID AGREEMENTe
NOW THEREFOREs BE IT RESOLVED BY THE VILLAGE COUNCIL OF THE VILLAGE OF RICHFIELDy MI NNESOTAs
AS FOt.LOWSB
THAT THE VILLAGE MANAGER 1$ HEREBY AUTHORIZED AND DIRECTED ;PO RELEASE THE AETNA CASUALTY AND
SURETY COMPANY FROM LIABILITY FOR ANY AND ALL ACTS OF E• N• FINNEY COMMITTED OR INCURRED IN
VIOLATION OF SAID CONTRACT NO. 554 CN AND AFTER THE 27TH DAY OF NOVEMBERS 1961•
ADAPTED BY THE VILLAGE COUNCIL OF THE VILLAGE OF RICHFIELD THIS 27TH DAY OF NOVEMBER
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19610
A TTE5T 8
VILLAGE CLERK
MAYOR
MANA R