1967-3894r~~
Rk~OLUTION N0, 389?
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RE50LUTION RELATIlVG TO RET,EI~SF~ OF SEOtTRITY ON OFF-STR A' PARK~,NG AG~iT T
Richfield Company (Multicon}
1033 West 3rd Ave,, Columbus, Ohio
Locations 75th to 7bth, Logan to 35W
Uses 21~ Apartment Buildings (212 Units)
W~fR~AS, Richfield Company (Multicon), 1033. West 3rd Avenue, Columbus, Ohio, had
an Off~Street Parking Agreement with the City of Richfield relating to the Apartment
complex located 3n the vicinity of 75th to 76th Streat~ Logan Avenue, to 35w, which
contract bears the designation and Contract Noe 911.8, and which contract was guarantseel
by a $60$000 Letter of Credit on deposit 3si th® Ohio National Bank of Columbus Ohio,
and
SafI]~tE"AS, said security was reduced tq the amount of $x.,000 by Coune3.l.:'Resolution
1
Noa 3765 Passed by the-City Council on January .23rd, 1967, and
~3E, said Richfield Company (Multicon) has complied. with the provisions of said
agreement and there appears to be no justification for requiring said. Company to continue
to provide security for the performance of said afireemente
NOW THEREF~Dl~°, BEE' TT RN~iOLVF~D by the City Council of the City of Richfield, Minnesota,
as followso
That the City Manager is hereby authorized and directed .to take such action . as may
be necessar~* to provide for the release of the security on deposit for the performance of
the agreements
Adopted by the City Council of the City of Richfield, this 23rd 'day of October,
1
19678
ATTEST s
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