1970-4378r~o~
RESOLUTION N0; 4378
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RESOLUTION RELATING TO RELEASE'OF BOND `ON OFF-STREET PARKING
Bor-Son Construction Co~.
1600 East 78th•Street
Location : 1550 East 78th Street •
Use: Office Building
WHEREAS, Bor~Son Construction Co., 1600 East~78th Street, Richfield; Minnesota,
had an off-street parking agreement with•the~City of Richfield relating to 1550 East
78th Street, which-contract-bears the°designation of Contract No; 2023 and which
contract was~guarant~eed~•by-a bond of-The Employers' Liability~Assurance Corp. Ltd.,
Minneapolis; Minnesota; fn thc~amount~•of'$23400e00;'and
WHEREAS, B-or~-Son Construction Co:, has-complied with the provisions of said
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agreement and-The Employers' Liability Assurance Corp. Ltd. now seeks to be relieved
of any further obligatom under-said bond, and
WHEREAS;there appears to be~no justification for requiring Bor~Son Construction
Co., to continue-•to•provide a bond:fo.r security on the performance of said-agreement:
NOW THEREFORE, BE`IT'RESOLVED by the City Council of the City of Richfield; Mia•~n-
esota, as follows:
That the City Manager•is hereby authorized and directed to release the Employers'
Liability Assurance Corp: Ltd. for~any and all acts of Bor-Son Construction Co.;
committed or incurred in violation of said contract No. 2023 on and after the 25th day
of May, 1970.
Adopted by the City Council this 25th day of May, 1970.
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ATTEST:
CITY' ERK
MAYOR