1970-4471r.^n~
~i.
RESOLUTION Nth 1+>~71
RESOLUTION RELATING TO RELEASE OF BOND ON OFF-STREET PARKING
Cedar Properties, Inc.
1+741+ Grand Avenue South, Minneapolis
Location: 7107 Chicago, 7106 E11iot
801 and 817 East 71st Street
Use: Two duplexes and two fourplexes
WHEREAS, Cedar Properties, Inc., 4744 Grand Avenue South, Minneapolis,~Minnesota,
had an off-street parking agreement with the City of~Richfield relating-to 7107 Chicago
Avenue South, 7106 Elliot Avenue South, and 801 and-817 East 71st Street, which contract
bears the designation of Contract No. 1045 and which contract was guaranteed-by a-bond
of the Fidelity and Deposit Company of Maryland in the sum of $5100.00, and
WHEREAS, Cedar Properties, Inc., has complied with the provisions of said agreement
and the Fidelity and~Deposit Company of Maryland now seeks to be relieved of any further
obligation under said-bond, and
WHEREAS, there appears to be no 3ustification for requiring Cedar Properties, 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-Fidelity and
Deposit Company of Maryland~for-any and all acts~of Cedar Properties; Inc:-commf:tted-or
incurred in violation of said-Contract No. 101+5 on~and after-the-13th-day of October, 1970.
Adopted by the City Council this 13th day of October, 1970.
w . ~:2~a.~-rt
N~AYOR
ATTEST:
CITY CLr ftK