1970-4400r1 `~
RESOLUTION N0. 4400
RESOLUTION RELATING TO RELEASE OF BOND ON OFF=STREET PARKING
Diamond La1ce Impravement~" Co.
5930 Portland Avenue South; Minneapolis
Location: 1500-04 East 78th Street
Use: Restaurant and Office
WHEREAS, the-'Diamand Lake--Improvement Co. had- an off-street parking-agreement with
the City of Richfield"relating~to 1500=04 East 78th Street, which contract bears the
designation of Contract No. 2013 and which con"tract was guaranteed by-Savings Account
Book No. 31~41.'show3:ng-an-amoc~nt~of $8,761:00 in the First Federal Savings and Loan
Association, 110 South-"7th ~Street,-Minneapolis, Minnesota; and
WHEREAS,-said-D~:amond Lakeplmprovement Company has comp~:ied with-'"the provisions°of
said agreement -and.:- there appears to- be• no• Sus of icat-ion "for requiring them to continue
to provide security on the-rperformance~ of said •agr-cement-.
NOW, `THEREFORE;-$E IT RESOLVED by the City Council of the City of Richfield, Minnesota,
as follows:.
That-the City Manager is hereby-autharized-and directed~to release the above described
Savings Account•Book=~"to the"Dfiamond Lake Improvement Companyo
Adopted by the City Council of the City of Richfield this 13th day of July, x.970.
W • ~~,a,~•-,~
MAYOR
ATTEST:
CITY CLERK