1970-4334r'~~
b.~
RESOLUTION N0. 4334
RESOLUTION RELATING TO RELEASE OF BOND ON OFF-STREET PARKING
Northwest Unit Investment Co.
7620 Penn Avenue South
Location: 76th Street and Penn Avenue South
Use: Century Court West Apartments
WHEREAS, the Northwest Unit investment Company, 7620 Penn Avenue South, Richfield,
Minnesota, had an off-street parking agreement with the City of Richfield relating to
the Century Court West Apartment Complex located at 76th Street and Penn avenue South
South, which contract bears the designation of Contract No. 1029, and which contract
was guaranteed by a bond of the Seaboard Surety Company, New York, New York, irk the
amount of $47,000.00, and
WHEREAS, the Northwest Unit Investment Company has complied with the provisions
of said agreement and the Seaboard Surety Company, New York, New Xo~`k, now seeks to
be relieved of any further obligation under said bond, and
WHEREAS, there appears to be no justification for requiring the Northwest Unit
Investment 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 Seaboard
Surety Company, New York, New York, for any and ail acts of the Northwest Unit Invest-
meat Company, committed or incurred in violation of said Contract No. 1029, on and
after the 9th day of March, 1970.
Adopted by the City. Council this 9th day of March, 1970.
ATTEST: ~ -~~--~~~
G%% ~G~~~ MAXOR
C CLERK