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90-050
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90-050
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<br />., <br /> <br />, . <br />. <br /> <br />t ! <br /> <br />25. Upon the effective -date hereof the Company may reduce the <br /> <br />Performance Bonds -now in place to one (I) Performance Bond <br /> <br />in the amount of Fifty Thousand Dollars ($50,000) naming all <br /> <br />ten (10) Member Cities as Secured Parties and eligible <br /> <br />drawers thereon. <br /> <br />The Performance Bond shall be replenish- <br /> <br />able so that each time anyone City draws thereon or makes a <br /> <br />claim against such Bond, the Company shall immediately <br /> <br />replenish the one Bond. <br /> <br />It is further agreed that at any <br /> <br />time, for the term of the Franchise Ordinance, or any <br /> <br />renewal thereof ,the commission or any Member city in its <br /> <br />sole discretion may require the amount of the one replenish- <br /> <br />able Performance Bond to be increased to an amount not to <br /> <br />exceed Two Hundred Fifty Thousand Dollars ($250,000). <br /> <br />26. This Resolution was moved by Councilmember l)llJlrleqnan and <br /> <br />seconded by Councilmember Brandt Rebelein <br /> <br />The following Councilmembers voted in the affirmative: <br />Benke. Gunderman, Brandt Rebelein, Larson <br /> <br />The following Councilmembers voted in the negative: <br /> <br />None <br /> <br />Adopted this 11th day of <br /> <br />Tllnp <br /> <br />, 1990. <br /> <br />CITY OF <br /> <br />NAW Rriehton <br /> <br />Dated: <br /> <br />June 12, 1990 <br /> <br />?@:~~ <br /> <br />13 <br />
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