1967-3794r32
RH.fiOLUTION NO o 3?g1i.
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RESOLUTION RELATING TO RF~~A~SE' OF FOND ON OFFmSTRE~ET PARKING
Bo To Ao Construction Company
3lt01 Colfax Avenue South
Locations 800 & 820 Wo 65th Streets
Uses Two 29 Unit Apartment Buildingso
WHE'R~16S9 Bo To Ao Construction Company, 3Lt01 Colfax Avenue Southg Minneapolis,
Minnesotafl had an Off®Street Parking Agreement with the City of Richfield relating
to 800 do 820 West 65th Street, which contract bears the designation of Contraot
Noa 816, and which contract was guaranteed by a bond of the Home Owners Insurance
Company, Chicago, I1linois$ ixi the sum of $8,000000, and
~fiERE'AS, said Bo To A, Construction Compaz~y has substantially complied with
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the provisions of said agreement .and the Home Owners Insurance Company now seeks
to b® relieved of any further obligation under said bond, and
WHERF~AS, there appears to be no 3ustification for requiring said Bo To Aa
Construction Company to continue to provide a bond for security on the performanc®
of said agreemento
NOWT THEH~OR~, BE' IT RESOL9ED by the City Council of the City of Richfield9
Minn®sotae as foll,owss
That the City Manag®r is hereby authorised and directed to rely a,s® the Home
O~mers Insurance Company for any and all sots of B, Ta Ao Construction Company9
committed or incurred in v3.nlation of said Contraot ~Ioo 816, on and afte~~ the 24th
day of Apri19 19670
Adopted by the City Council this 2l~th day of Aprils 1967e
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ATT~TS
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