1967-3893r~~
RE450LUTION NOo 38g3
RCSOLUTION REZATING TO RELE°AS~Y of BOND ON OFFmSTRE~rT PARK]NG
Mra Allan E~.wood
c/o John Shorted, 7400 Penn Avenue
Locationo 7.00 and 7t~20 ''enn Avenue
Use m Two 11 Unit Apartanent Buildings
~~dE~~~~AS9 I~r® Allan Flwood9 c/o Mra John 'e "hosted9 7t~OO Penn Avenue Souths
hid ~, O ":F Street Parking E~_gx~ement, with the City of li3.chfield relating to 700 and
7~2G Porn Avenue South9 Richfield9 A4innesota9 which contract bears the designation
of Contract Noa 691, and which contract was guaranteed by a bond of the Fidelity and
Deposit Company of Maryland, Baltimore, Maryland, in the sum of $19500000, and
WFIE'REAS9 said Mro Allan Elwood has complied with the provisions of said agree-
ment and the Fidelity and Deposit Company now seeks to be tali®ved of any further
obligation under said bond9 and
T~kIE'NEAS9 there appears t~ be no justification for requir3.ng said Mro A~.an E~7.wood
to continue to continue to ;provide a bond for security on the performance of said
agreements
NOW TH:~RE'F0~9BE' IT 1~ESOLVED by the City Council of the City of Ri.chfield9 Minn-
esota9 as follows
That the City Manager is hereby authora.zed and directed to release the Fidelity and
Deposit Company for any and all acts of Afro Allan t+, .waod9 committed or incurred in
violation of said Contract Noa 6919 on and after the 23rd day of October, T967o
Adopted by the City Council this 23rd day of Octobers 1967e
1 ,~ ....~..,.~,.....,
~~ .~ ~%~
C CLE -