62-167 Resolution - Laserfiche WebLink

Home Browse Search

CITY OF iVORTIf 7I.."STE:~ RESCLL'~1_':Ji\~ No. 62 -~ •~ ) B y ~ ~ -r ~'t-aC-~Z., A RESOLUI'IvN RELLASIN~:3 F~Ji~2 L:CA3IL1TY Ti-~E ~RIVCI:~~ALS Ai°vI:) St:~RETIES O{~ CER'lAI~I P:rRFOlt`~iANCE BO~vJS IiERETOFORE POST E? ~ RY THE R. & K. LANLi COi'~~PA~~Y FOR T~-~L CUNII'LETICN OF SI g?Ei~VALK.S CN StiNSET OVAL I;v R. A. GALL' S R. ~ R. SLBT}IVISZON NO. 1, Ai~3;) ?=)ECLAR:IN« AN E~IERGEVCY. j~HEREAS, certain performance bonds as herein- af ter_set forth were posted with the City of North Amsted to cover the completion of sidewalks on Sunset 4va1 in R. A. Gall's R. g~ R. Subdivision ?~'o. 1; and WI~~ER:BAS, the City Engineer has reported to the Council that such sidewalks have been constructed. incom- pliance with plans and. specifications heretofore anr~roved for said subdivision. NO~~tI, THEREFORE, aE IT RESOLVED by the Council of the City of North Olmsted., State of Ohio: Section 1: That the following bonds: (a) Performance .Bond dated August 15, 1958 with The Continental Casualty Company as surety and The R. & R. Land Company as principal to The City of North Olmsted in the sum of ~ 4,500.00 , covering the construction of sidewalks on Sunset Oval in t?•ze City of North Jlcr,sted in R. A. Gall's R. & R. Subdivision ~vo. 1; and (b) Performance ~3ond dated September 11, 195£? with The Birmingham Fire Insurance Company of Pennsylvania as surety and Th.e R. ~ R. Land Company as principal to the City of {forth Jlmsted in the sum of .13,000.{)0 covering the construction of side- walks on Sunset Oval in the ~:ity of North Olmster in R. A. Gall's R. ~ R. Subdivision No. 1 which are on deposit with. the City of North same are hereby released and discharged and R. & R. Land Company, and the sureties, The Company and The ~3irmingham Fire Insurance C are hereby released and discharged from all by virtue of sai.c9 bonds. Olmsted ~~e and the the principal, The Continental Casualty o:~~r~any of Pennsylvania, liability under. am Section 2: That the Clerk oi' Council is hereby directed to mail to each of the sureties shown above and to the developer a certified cony of this Resolution. Section 3- That this Resolution is hereby determined to be an emergency measure necessary for the preservation of the public peace, health, safety and tivelfare, such emergency existi.nU by virtue of the fact that delay in cancelling saif~ Bonds would result in needless expense fo.r the payment of renewal premiums;