1966-3604r~~
RESOLUTION No. 3604
{ RESOLUTION No. 35~ •• ~.~.end d)
RESOLUTION RE'LATTNG TO RELEASE OF BOND FOR DEVELOPNfENT OF
MILDRED DRIVE FROM 6t~th STREET AND EMERSON ,AVENUE TO COLFA%
AVENF7E.
Grass Lake Development Go.
5601 13th Avenue South
T+~H~EAS, the Grass Lake Development Co.y 5601 13th Avenue South' had a
Developer9s Agreement with the City of Richfield relating to the construction
of Mildred Drive from 6?~th Street and Emerson Avenue to Colfax Avenue' which
contract bears the designation of Contract No. 9lt2 and which contract was guaran®
teed by a bond of the United Pacific Insurance Company of Tacoma' Washington' 3n
the sum of Twenty Thousand{$20'000.00) Dollars, and
WHEREASs said Grass Lake Development Co. has substantially complied with
the provisions of said agreement and the United Pacific Insurance Company now
seeks to be relieved of any further obligation under said bonds and
1rTHEREAS9 there appears to be no justification for requiring said Grass Lake
Development Co, to continue to provide a bond for security on the performance of
said agreement.
NOinT THEREFORE BE IT RESOLVED by the City Council of the City of Richfield,
Minnesotae as followso
That the City of Richfield does hereby, and through the City Manager' fully
release and discharge the United Pacific Insurance Company from any and all oblim
gations under the aforesaid surety bond,
Passed by the City Cour~il of the City of Richfield this 25th day of Aprils
19660
~.
ATTESTS Stanley W. 0 son Mayor
~V P
Edward Mol ® Clerk