1972-4832rRESOLUTION N0. 4832
RESOLUTION RELATING TO RELEASE OF BOND ON OFF-STREET PARKING
Richfield In~yestment__Co.
6625 Lyndale Avenue South
Location: 6615-6621 Harriet Avenue South
Use: Addition to Parking Lot for
Richfield Bank & Trust Company
WHEREAS, the Richfield Investment Co., 6625 Lyndale Avenue South, Richfield, Minn-
esota, had an off-street parking agreement with the City o~ Richfield relating to 6615
and 6621 Harriet Avenue South, which contract bears the designation of Contract 2094,
and which contract was guaranteed by a bond of the Allied Mutual Insurance Company,
Des Moines, Iowa, in the amount of Six. Thousand ($6,000:00) Dollars, and
WHEREAS, the Richfield Investment Co. has complied with the provisions of said
agreement and the Allied Mutual Insurance Company now seeks to be relieved. of any
further obligation under said bond, and
WHEREAS, there appears to be no justification far requiring the Richfield Investment
Co. 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 Allied Mutual
Insurance Company, Des Moines, Iowa, for any and all acts of the Richfield Investment
Co., committed or incurred in violation of said Contract No. 2094, on and after the 11th
day of September, 1972.
Adopted by the City Council this 11th day of September, 1972.
ATTEST:
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Thomas J. M/fan City Clerk