1975-5340r363
RESOLUTION N0. 5340
RESOLUTION RELATING TO RELEASE OF BOND ON OFF-STREET PARKING
Texaco, Incorporated
1730 Clifton Place, Minneapolis
Location: 7733 Portland Avenue So.
Use: Addition to third bay for
car wash equipment
WHEREAS, Texaco, Incorporated, 1730 Clifton Place, Minneapolis, Minnesota,
had an off-street parking agreement with the City of Richfield, relating to 7733
Portland Avenue South, which contract bears the designation o.f Contract No. 2118
and which contract was guaranteed by a bond of the Travelers Indemnity Company,
Hartford, Connecticut, in the amount of $10,700.00, and
WHEREAS, Texaco, Incorporated has complied with the provisions of said agreement
and the Travelers Indemnity Company now seeks to be relieved of any further obliga-
tion under said bond, and
WHEREAS, there appears to be no justification for requiring Texaco, Incorporated
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,
Minnesota, as follows:
That the City Manager is hereby authorized and directed to release the Travelers
Indemnity Company, Hartford, Connecticut for any and all acts of Texaco, Incorporated
committed or incurred in violation of Contract No. 2118 on and after the 24th day of
March, 1975•
Adopted by the City Council of the City of Richfield this 24th day of March,
~'
1975•
ATTEST:
Thomas J. Moran City Clerk