1970-4329r~~
RESOLUTION N0. 4329
RESOLUTION RELATING TO RELEASE OF BOND ON OFF-STREET PARKING
Finnemann Enterprise, Inc.
2954 1Vo. Rice Street, St. Paul
Location:: 6341-45 Penn Avenue South
Use: Chicken and Steak House
WHEREAS, Finnemann Enterprises, Inc., 2954 North Rice Street, St. Paul, ~~inn-
esota, had an off-street parking agreement with the City of Richfield relating to
6341-45 Penn Avenue South, which contract bears the designation of Contract No. 20209
and which contract was guaranteed by a bond of the Transamerica Insurance Company,
Los Angeles, California, in the amount of $10,500.00, and
WHEREAS, Finnemann Enterprises, Inc. has complied with the provisions of said agree-
went and the Transamerica Insurance Company, Los Angeles, California, now seeks to be
rel~.eved of any further obligation under said bond, and
WHEREAS, there appears to be no justification for requiring Finnemann Enterprises,
Inc. 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 Transamerica
Insurance Company, Los Angeles, California, for any and all acts of Finnea-ann Enter-
grises, Inc. committed or incurred in violation of said Contract No..2020, on and after
the 23rd day of February, 1970.
Adopted by the City Council this 23rd day of February, 1970.
'W
MAYOR
ATTEST:
CI CLERK