1962-2835r
RESOLUTION NO•, 2835
RE~~.UTtON RECATING TO RELEASE OF BOND ON OFFp6TREET PARKING
Fs W. WOOLWORTH COe
400 MIDLAND BUILDING
LOCATIONS 508 EAST 66TH STREET
USEII SALES do STORAGE
NURSERY AND 4ARDEN STORE
WHEREAS9 F• Wo WOOLWORTH CO•d 400 MIDLAND BUILDINGs MINNEAPOLtSS. MINNESOTAy HAD
AN OFFa.STREET PARKING AGREEMENT WITH THIS VILLAGE RELATING TO 508 EAST 66TW STREETg
WHICH CONTRACT BEAR$ THE DE8IQNATION OF APPLICATION NOo 60-ts CONTRACT NOo 560 AND
WAS GUARANTEED eY A BOND OF THE UNITED PACIFIC INSURANCE COMPANY IN THE AMOUNT CF
FIVE THOUSAND (~5~000l00~ DOLLARB~ AND
WHEREAS SAID NURSERY AND GARDEN STORE NO.LONGER EXISTS AND THE BUILDINGS HAVE
e
BEEN REMOVED AND THE UNITED PACIFIC INSURANCE COMPANY NOW BEEKS TO BE RELIEVED OF ANY
FURTHER OBLIGATION UNDER SAID BONDS AND
WHEREASs THERE AppEARS TO SE NO .JUSTIFICATION FOR REQUIRING SAID Fo W• WOOLWORTH
COMPANY TO CONTINUE TO PROVIDE A BOND FQR SECURITY ON THE PERFORMANCE OF 6AID AGREEMENTo
NOW THEREFOREs BE IT RE50LVE0 BY THE VILLAGE COUNCIL OF THE VILLAGE OF RICHFIELDs
MINNE50TA~ AS FOLLOWSB
THAT THE VILLAGE MANAGER IS HEREBY AUTHORIZED AND DIRECTED TO RELEASE THE UNITEIo
PACIFIC (NSURANCE COMPANY FROM LIABILITY FOR ANY AND ALL ACTS OF Fo We WOOLWORTH Coe
COMMITTED OR INCURRED IN VIOLATION OF SAID CONTRACT NOo ~0~ ON AND AFTER THE 10TH DAY
OF SEPTEMBERS 19620
~a~
ADOPTED BY THE VILLAGE COUNCIL OF THE VILLAGE OF RICHFIELD THIS {0TH DAY OF SEPTEMBER
1962,
NAYDR
ATTEST s
M4NA
V LACE GLl3d~C