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1966-3562r~~~ D RESOLUTION NOo 3562 RESOLIJTBON RELATINQ TO RELEA3~ OF BOND ON OFF-STREET PARKPNQ N@RTHWESTERN BELL TELEPHONE Coo 224 S@t1TH S'rH STREET® aOBNN. EIAPOLI S L@@AT I ON t 3AE1 WE 8T $61'~ STREET USES ~~D01114N TO ®UIf.fIi1N8 {IiHEREASp N0kI1`HNESTERN 13E0eL TELEPH®NE Coe, 224 SDUTH 5TH STREETa ~11NNEAP0L18' UIINN- ESflTAg MAD AN OFFd+STREET PARKINQ ~gREE19ENT KITH THE CITY OF RICHFIELD RELATfNG TO 300 WEST 66TH STREETg WHItiH CONTRACT BEARD THE DE SiQP1AT10N DF CONTRA@T N@o 9t7t AND IIH10k1 C@NTRACT WAS QUARQNTEED LiY !~ BON® @F THE FEDEITAL E'NS~tANCE COMPANY SD JOHN STREETS NETT ~°@R~D NEW YoRK,p I~t Tt~E SUM ®F ~5~00®oOOa AN@ I~WEREASa NORTH91ESTi<RN 6ELL TELEPHONE CDo HAS SUBSTANTIALLY C@MPLIED IYITFa THE 1 PROVBSIONS @F SAID AQREEMENT AND THE FEDERAL 1NSU4ANCE C@MPANV N@W SEEKS T@ fIE RELIEVED @F ANY FURTHER 81$L8QAT8DN UNDER SA1ta B®NDe AIND WWEREASD THERE APPEARS TO I3E NO JUSTIFICATION FOR RE@lU1RINq RAID NEIRTHYPESTERN BELL TELEPHONE C0@APANY TO CONTINUE T@ PR®VIDE A BOND FAR ~CURITY ON THE PERF@RMANCE OF SA OII Af8REE0.~NTe NOW THEREF8RE8 BE IT RESOLVE© pIY THE CITY Cv@UNCIL ®F TIC G1TY OF RtcHFIELD, NINN- ES@TAn AS F0LL0WIIt THAT THE CITY RIANA®ER IS HEREBY RUTH@RIZEO AND DIRECTED TO RELEASE THE FE@ERAL ONSURANCE COMPANY F@R ANY AND ALL ACTS @F THE NORTHWESTERN BELL TELEPHONE C@MPANY COMMITTED AR ON@~RED ON VICQ~ATION OF SAID C'tINTRACT N0o 917, ON AND AFTER THE '24TH DAY ®F JANMARY9 1966® AD©P'BED Fd9' THE GITV Cotlla@IL OF `~ CITY ®F ROCHFIEL@ TH18 24TH DAY @F JA-NUARYa 19C6~ ~• CS~Q--~.~-. ATTESTS IMYDR C~~ GG~-C~v~ CQT OL.ER~