1965-3476r~°~~
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RESOLUTION N0. 3476
RESOLUTION RELATING TO RELEASE OF BOND ON A. N. TACK
tST ADOtT1ON•
A• N. TACK, DEVELOPER
5959 PORTLAND AVENUE
PLAT N0. 1675 CONTRACT N0. 635
WtiEREASe A. N. TAGKS 5959 PORTLAND AVENIJfI: SK3UTH, HAD A DEVELOPER~8 AQREEMENT WITH
THE VILLAGE OF RICHFIELD NOW THE CITY RELATINQ TC A. N. TACK~B 1ST ADDITIONS WHICH
CONTRACT BEARS TMiL DESIGNATION OF CONTRACT N0. 635 AND WHICH 'CONTRACT WAS GUARANTEED
BY THE TRINITY UNIVERSAL INSURANCE CCMPANY OF DALLA SS TExass IN THE SUM OF ~18930.OOd
AND
WHEREASS SA10 A. N. TACK HAB SUBSTANTIALLY COIAPLIED ]111TH THE PROVi SI ON8 OF SAID
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AGREEMENT AND THE TRINITY INSURANCE COMPANY NOW SEEKS TO BE RELIEVED OF ANY FURT•WER
OBLIGATION UNDER RAID BONDS. AND
WHEREASS THERE APPEARS TO BE NO JUSTIFICATION FOR REQUIRING SAID A• N• TACK TO CONp
TINUE TO PROVIDE A BOND FOR SECURITY ON THE PERFORMANCE OF SAID AGREEMENT.
NOW THEREFOREs BE iT RESOLVED BY THE CITY COUNCIL CF THE CITY OF RICHFIELDS MINNE 80TAS
AS FOLLOWS=
THAT THE CITY MANAGER IS F~REBY AUTHORIZED AND DIRECTED TO RELEASE THE TRINITY
UN 1 VER SAL IN SUitANCE COMPANY FCR ANY AND ALL ACT 8 OF A. N • TACK COMM I.T TED OR I NCURRED
IN VIQLATION OF BA ID CONTRACT N0. 6355 ON AND AFTER THE 9TH DAY OF AUGUSTS _1965.
ADOPTED BY THE CITY COUNCIL OF THE CITY OF RICHFIELD THIS 9TH OAY OF AUGUSTS 1965.
ATTESTa
CITYC,RK
. «a
MAYOR
NORTHERLY BDUNDARYS 186,31e S• OF CL 76TH ST.
~UTHEFiLY BCUNDARYt C!. 77TH STREET
1~l~6TERLY BDUNDARYL 1~2 BLOCK ~• OF CL LOGAN AVENUE
EASTERLY BOUNDARY! CL LOGAN AVENUE
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