1967-3795r33
RESOLUTION NOe 3795
RESOLUTION RELATIlJG TO RELEASE' OF BOND ON OFF®STREET PARKI~tT~
Bo Ta Ao Construction Company
3401 Coif au Avenue S oaths
Locationo 840 West 65th Street
Use°e One Z1 Unit Apartment Building
WHErREASs Bo To Ao Construction Company, 3401 Colf ax Avenue South, Minne apoliss
Minnesota9 had an Off®S treet Park3.ng Agreement with the City of Richfield relating
to 840 West 65th Street9 which contract beaxs the designation of Contract Noe 977,
and which contract was guaranteed by a bond of the Homs Owners Insurance Company9
Chicago' Illinoise in the sum of $5,300800, and
WHEREAS9 said Bo To A, Construction Company has substantially complied with
the provisions of said agreement and the Home Owners Insurauce Company now seeks
to be relieved of any further obligation under said bond9 and
WHE~REAS9 there appears to be no 3ustification for requiring said Bo Te Ae
Construction Company to continua to provide a bond for security on the performance
of said afire®mento
NOW THEREF'ORE~~ BE' IT RESOLVED by the City Council of the City of Ri.chfislds
Minnesotae as followsa
That the City Manager is hereby authorized and directed to release the Home
Owners Tnsuranee Company for any and all acts of B, To Ao Construction Company9
cortnn3.tted or incurred in violation of said Contract Noe 9778 on and after the
24th day of Apri19 19670
Adopted by the City Council this 24th day ofApril9 1967°