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1966-3737r~~~ 1 RESOLUTION N0. 3757 RESOLUTION RELATING TO RELEASE OF BOND ON OFF-STREET PARKING J. E. BRAa3 2618 N. E• RANDOLPH ST. LOCATION; 84 WEST 78TH STREET USES INDUSTRIAL SUPPLY C"1MJLESALE~ WAREHOUSE WHEREAS J. E, BRAAS~ 2618 N. E. RANDOLPH STREET"~.MPL3~~,~ MINNESOTA HAD AN OFF-STREET PARKJNG AGREEMENT WITH THE CITY OF RICHFIELD RELATING TO 84 WE8T 78TH STREETS WHICH CONTRACT BEARS THE DESIGNATION OF CONTRACT No. 982 AND WHICH CONTRACT WAS GUARANTEED BY A BOND OF THE CONTINENTAL INSURANCE COMPA NYC NEW YORK~NEW YORK IN THE SUM OF $2000,00 AND WHEREAS SAID J• E. BRAAS~ HAS SUBSTANTIALLY COMPLIED WITH'.THE PROV1310N8 OF SAID AGREEMENT AND THE CONTINENTAL INSURANCE COMPANY NOW SEEKS TO BE RELIEVED OF AMY FURTMER OBLIGATION UNDER SAID BONDS AND WHEREAS, THERE APPEARS TO BE NO JUSTIFICATION FOR REQUIRING SAID J. E• &RAAS TO CONTINUE TO PROVIDE A BOND FOR SECURITY ON THE PERFORMANCE OF 8AID AGREEMENT• NOW THEREFORE, BE IT RESOLVED BY THE CITY riOWNCIL OF THE CITY OF RICHFIELD MINNESOTAy AS FOLLOWS; THAT THE CITY MANAGER IS HEREBY AUTHORIZED AND DIRECTED TO RELEASE THE C©NTINENTAL INSURANCE COMPANY FOR ANY AND ALL ACTS OF J. E, BRAAS~ COMM{TTED OR INCURRED IN VIOLATION OF SAID CONTRACT N0. 982 ON AND AFTER THE 14TH DAY OF NOVEMBER, 1966, ADOPTED 8Y THE CITY COUNCIL THIS (4TH DAY OF NOVEMBERS 1966. `'J ..~-~.4s.. ATTEST: