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CT'TY OF NORTH OLM.STED <br />RE5~)L~JTION No. 63 ~--~ <br />A RESOLUTION R_F,L~ASI_'VG FROM LIABILITY THE PRINCIPAL. AND <br />SURETIES ON CERTAIN PERFOR_~~ANCE BONDS HERETOFORE POSTED <br />BY JOSEPH L. HOISL£3AUER FOR THE COMPLETION OF IMPROVE- <br />MENTS IN .JOSEPH L. HOISL?3At1ER' S BUTTERNUT RIDGE SUB- <br />DIVISION No. 1 ON STAI7IUi~4 1?RIVE, AND DECLARING AN EMERrENCY. <br />b~HEREA5, certain performance bonds as hereinafter <br />set forth were posted with the City of North Olmsted to guarantee <br />the completion of certain improvements in Joseph L. Hoislbauer's <br />Butternut Ridge Subdivision No. 1 on Stadium Drive; and <br />WHEREAS, the City Engineer has reported to the <br />Council thatsuch improvements have been completed in compliance <br />with the plans and specifications heretofore approved by this <br />Council for said Subdivision. <br />NOW, THEREFORE, BE I7' RESOLVED by the Council of <br />the City of North Olmsted, State of Ohio: <br />Section 1: That the f of lowing bonds : Ca) Performance <br />Bond dated August 30, 1957 with Joseph L. Hoislbauer as principal <br />and The United States Fidelity and Guaranty Company as surety <br />to the City of North Olmsted in the sum of $6,000.00, known as <br />the surety's bond No. 54528-12-3618-57 to guarantee the construction <br />of improvements on Stadium Drive in .Toseph L. Hoislbauerts Butternut <br />Ridge Subdivision No. l; and Cb) Performance Bond dated aeptember <br />23, 1957 with ,Joseph L. Noislbauer as principal and the United States <br />Fidelity and Guaranty Company as surety to the City of North `Amsted <br />in the sum of $18,000.00, known as the surety's }pond No. 54528-12- <br />3320-57 to guarantee the construction of improvements on Stadium <br />?give in .Toseph L. Hoislhauer's '3utternut Ridge Subdivision No. 1, <br />which are on deposyt with. the City of North Olmsted be and the same <br />are hereby released and the principal, ,Toseph L. Hoislbauer, and the <br />sureties are herebv released and dischar7ed from all liability under <br />and by virtue of said. bonds. <br />Section 2: That the Clerk of (:ouncil is hereby directed to <br />mail to the sureties 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 public <br />health, safety and welfare by virtue of the fact that tlae delay in <br />cancelling; said bonds would. result in needless expense for the pay- <br />ment of renewal fees; WHEREFORE, this i.Tesolution shall take effect <br />and be in force immediately upon its passage, otherwise, at the <br />a earliest period allowed by law. <br />PASSED: zL.. ~ _~~' ____, <br />Bruce Macnonald, resident o <br />Council <br />ATTEST: j <br />uise Hall, Clerk of Council <br />APPR <br />;~ <br />Pa .. G au, ?~9ayor <br />(~ <br />,-, <br /> <br />