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CITY OF NORTH OLMSTED <br />~=, L <br />RESOLUTION No. 63 --i'~~._.1_. <br />A RESOLUTION RELEASING FROM LIABILITY THE PRINCIPAL <br />AND SURETY ©N A CERTAIN PERFOR~9ANCE BOND POSTED BY <br />OLMSTED COLONY, INC. FOR THE COMPLETION OF THE <br />CONSTRUCTION AND INSTALLATION OF SIDEWALKS ON <br />SPRUCE DRIVE, AN~1 DECLARING AN EMERGENCY. <br />WHEREAS, a certain performance bond known as <br />No. 90-969-t~10 as hereinafter set forth was posted with the <br />City of North Olmsted to guarantee the completion of sidewalks <br />in Olmsted Colony Inc. 's Subdivision known as Olmsted Colony <br />Subdivision No. 3; and <br />WHEREAS, the City Engineer has reported to the <br />Council that such sidewalks have been completed in compliance <br />with the plans and specifications heretofore approved by this <br />Council for said Subdivision. <br />NOW, THEREFORE, BE IT RESOLVEI:} by the Council of <br />the City of North Olmsted, State of Ohio: <br />Section 1: That Bond No. 90-469-810, a performance bond <br />posted by Olmsted Colony, Inc. as principal, and The Maryland <br />Casualty Company as surety, in the sum of $7,650.00, to guarantee <br />the construction if sidewalks on Spruce Drive in Olmsted Colony <br />Subdivision No. 3, be and the same is hereby released and the <br />principal, Olmsted Colony, Inc., and the surety, The Maryland <br />Casualty Company, are hereby released and discharged from all <br />liability under and by virtue of said bond. <br />Section 2: That the Clerk of Council is hereby directed <br />to mail to the surety shown above and to the developer a certified <br />copy of this Resolution. <br />Section 3: That this Resolution is hereby determined to <br />be an emergency measure necessary for the preservation of the <br />public welfare, peace, health. and safety by virtue of the fact <br />that delay in cancelling said bond would result in needless ex- <br />pense for the payment of renewal fees; WHEREF::~RE, this Resolution <br />shall take effect anti be in force immediately upon its passage, <br />otherwise, at the earliest period allowed by law. <br />PASSED: ~~ ~~~~ ~ ~ t ~~' °~,. <br />;,~ <br />ATTESTS /' _ <br />~ - ,- <br />1.,.. ..~- ~ ~ -y_V <br />~`~-Lou se Hall, lerk o Council <br />Al'P T~: <br />~~ <br />Paul J. j.~a'reau, Mayor <br />r <br />1 <br />Bruce MacDonald, President <br />Of COUI7Cll <br />,. <br />„t, <br />y! j:~ .. { <br />t - ~ •4' <br />,`~ <br /> <br />