1974-5230r233
RESOLUTION N0. 5230
RESOLUTION RELATING TO RELEASE OF SAVINGS CERTIFICATE
ACCEPTED IN LIEU OF SURETY BOND ON OFF-STREET PARKING
Mr. George Kosmides
6608 Penn Avenue South
Location: 6400 Penn Avenue South
Use: Wholesale dental supply with
offices/balance of area wholesale
distributing and storage
WHEREAS, Mr. George Kosmides, 6608 Penn Avenue South, Richfield, Minnesota,
had an off-street parking agreement with the City of Richfield relating to 6400
Penn Avenue South, which contract bears the designation of Contract No. 2175
and which contract was guaranteed by a Savings Certificate drawn on the Richfield
Bank & Trust Co. in the amount of $15,000.00 and assigned to the City of Richfield,
and
WHEREAS, Mr. George Kosmides has complied with the provisions of said agree=
ment and there appears to be no justification for requiring him to continue to
provide security on the performance of said agreement.
NOW THEREFORE, BE IT RESOLVED by the City Council of the City of Richfield,
Mia~nesota, as follows
That the City Manager is hereby authorized and directed to release the above
described Savings Certificate to Mr. George Kosmides.
Adopted by the City Council of the City of Richfield this 26th day of August,
1974.
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ATTEST:
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Thomas J, Moan City Clerk