1966-3729r~~
RE50LUT ION N0. 3729
RESOLUT10N RELATING TO RELEASE OF BOND ON OFF-STREET PARKING
RIMNAC $o HAN SO N'
(0554 WENTWORTH AVENUEi
LOCATIONS LOTS I THROUGH Ili BLOCK 1~
STRAND BOWEN 2ND ADDITION!
USES OFFICE 8o RETAIL STOREB.
WHEREAS RIMNAC $ HAN80N~ IO554 WENTWORTH AVENUES HAD AN OFF-STREET PARKINQ AGREEMENT
WITH THE CITY 0~' RIOHFtELO RELATING TO LOTS I THROUGH Ili BLOCK I, 3iTRAND~sOWEN 2ND ADD-
ITION~ WHICH CONTRACT BEAR8 THE DESIGNATION OF CONTRACT NO. 423 AND WHICH CONTRACT WAS
GUARANTEED BY A BOND OF THE ST. PAUL FIRE AND MARINE INSURANCE COMPANY IN THE 8UM OF
~2~000.OOi ANo
WHEREAS 8A1D RIMNAC & HANSON MAVE SUpSTANTIALLY COMPLIED WITH THE PROV1810NS OF SAID
AGREEMENT AND THE ST• PAUL FIRE AND MARINE IIVtAJRANCE C,OMPANY~ NOW SEEKB TO BE RELIEVED
OF ANY FURTHER OBLIGATION UNDER SAID BONDS AND
WHEREAS THERE APPEARS TO BE NO JUSTIFICATION FOR REQUIRINQ SA10 RIMNAC ~ HAN 80N
TO GONTINUE'TO PROVIDE A BOND FOR SECURITY ON THE PEF{FORMANCE OF 6A 10 AGREEMENT.
NOW THEREFOREi BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF RICHFIELD, MINNESOTA
AS FOLLOW 80
THAT THE CITY MANAGER IS HEREBY AUTHORIZED AND DIRECTED TO RELEASE ?HE ST. PAUL FIRE
AND MARINE INSURANCE COMPANY FOR ANY AND ALL ACTS OF RIMNAC 8o HANSONs COMMITTED OR INCURRED
IN VIOLATION OF SAID CONTRACT N0. 423i ON AND AFTER THE 24TH DAY OF OCTOBER, 1966.
ADOPTED BY THE CITY COUNCIL OF THE GITY.OF RIGHFIELDi MINNESOTA' THIS 24TH DAY OF
OCTOBERS 1966
.~
ATTESTt MAYOR
~~~ -~~ c2~.~~
GITY CLERK