1968-4092r~.~~
RESOLUTION N0. 4092
1
RESOLUTION RELATING TO RELEASE OF BOND ON OFF-STREET PARKING
Murphy Oil Co.
E1 Dorado, Arkansas
Location: 7645 Lyndale Avenue South
Use: Gasoline Service Station
WHEREAS, Murphy Oil Co., El Dorado, Arkansas, had an Off-Street Parking Agree-
went with the City of Richfield relating to 7645 Lyndale Avenue South, which contract
bears the designation of Contract No. 1002, and which contract was guaranteed by a
bond of the U. S. Fidelity & Guaranty Co., Baltimore, Maryland, in the amount of
$11,000.00, and
WHEREAS, Murphy Oil Co. has complied with the provisions of said agreement and
the U. S. Fidelity & Guaranty Co. now seeks to be relieved of any further obligation
under said bond, and
WHEREAS, there appears to be no justification for requiring the U. S. Fidelity &
Guaranty Company to continue to provide a bond for security on the performance of
said agreement.
NOW THEREFORE, BE IT RESOLVED by the City Council of the City of Richfield, Minn-
esota, as follows:
That the City Manager is hereby authorized and directed to release the U. S.
Fidelity & Guaranty Co. for any and all acts of Murphy Oil Co., committed or incurred
in violation of said Contract No. 1002, on and after the 25th day of November, 1968.
Adopted by the City Council this 25th day of November, 1968.
ATTELT:
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CITY ERK
W'~
MAYOR