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RESOLUTION NO. F7-/re <br /> RESOLUTION APPROVING THE REDUCTION OF <br /> PERFORMANCE BONDS FOR THE CONSTRUCTION <br /> OF CERTAIN SIDEWALKS WITHIN INDIAN HILLS PLAT NO. 7, <br /> CITY OF CLIVE, IOWA AND AUTHORIZING THE MAYOR <br /> AND CITY CLERK TO EXECUTE THE NECESSARY ENDORSEMENTS <br /> IN ORDER TO IMPLEMENT SAID APPROVAL <br /> WHEREAS, the City of Clive, Iowa, is presently protected <br /> as Obligee under the following performance bond for the com- <br /> pletion of the construction of certain sidewalks within the <br /> area commonly known as Indian Hills Plat No. 7, City of Clive, <br /> • Iowa: <br /> Bond No. 37721 in the amount of $7,600.00, <br /> dated the 16th day of August, 1977, relating <br /> to Indian Hills Plat No. 7. The principal <br /> under such bond is Charles I. Colby, Jr. and <br /> Clark A. Colby, a Limited Partnership, d /b /a <br /> Indian Hills Land Development, Ltd. and the <br /> surety thereunder is Allied Mutual Insurance <br /> Company of Des Moines, Iowa. <br /> AND WHEREAS, according to the Director of Public Works of <br /> the City, the above said Principal under said bond has completed <br /> a portion of the sidewalk construction as so required; and <br /> WHEREAS, the City of Clive, due to the completion of such <br /> portion of the construction of said sidewalks as so required, <br /> is desirous of reducing the amount of the above said bonds to <br /> an amount which more adequately reflects the actual footage of <br /> sidewalk yet to be constructed. <br /> NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE <br /> CITY OF CLIVE, IOWA: <br /> That the City of Clive hereby approves the reduction <br /> of the following bond in the following amount and further <br /> hereby authorizes the Mayor and the City Clerk to execute <br /> the necessary endorsements in order to implement this <br /> approval: <br /> Bond No. 37721, dated August 16, 1977 relating <br /> to Indian Hills Plat No. 7, the amount thereof <br /> shall be reduced $4,428.28 from $7,600.00 to <br /> $3,171.72. <br /> PASSED AND APPROVED this _ day of , 1987. <br /> i <br /> 4ta ili ‘k 4 / <br /> OT 110 1 WII <br /> • . e e YY "O �s° a <br /> • <br /> ATTEST: <br /> 41 t 4 i _' I >id , !I <br /> I ' / / I <br /> MARJ•RIE S.1 ROBERTS, ity Clerk <br />