1972-4775rRESOLUTION N0. 4775
RESOLUTION RELATING TO 1tELEASE OF BOND ON OFF-STREET PARKINGS
Richfield Bank & Trust Company
6625 Lyndale Avenue South
Location: 515 West 66th Street and
6609 Harriet Avenue So.
Use: Parking Lot for Bank
WHEREAS, the Richfield Bank & Trust Company, 6625 Lyndale Avenue South, Richfield,
Minnesota, had an off-street parking agreement with the City of Richfield relating to
515 W. 66th Street and 6609 Harriet Avenue South, which contract bears the designation
/of Contract No. 2038 and which contract was guaranteed by a bond of the Allied Mutual
Insurance Company, Des Moines, Iowa, in the amount of $5,000.00, and
WHEREAS, the Richfield Bank & Trust Company has complied with the provisions of said
agreement and the Allied Mutual Insurance Company, Des Moines, Iowa, now seeks to be
relieved of any further obligation under said bond, and
WIIEREAS, there appears to be no justification for requiring the Richfield Bank &
Trust Company to continue to provide a bond for security on the performance of said agree-
ment.
NOW TIIEREFORE, 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 Allied
Mutual Insurance Company, Des Moines, Iowa, for any and all acts of the Richfield Bank
& Trust Company, committed or incurred in violation of said Contract No. 2038, on and
after the 12th day of June, 1972.
Adopted by the City Council this 12th day of June, 1972.
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ATTEST:
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Tom Moran City Clerk
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~~-~ ~ L ren L . •'Law `` Mayor
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