CCR1975095RESOLUTION $195-75
ACCEPTING A SURETY BOND IN EXCHANGE FOR A CASH BOND
(National Exchangers, Inc.)
I
WHEREAS, the City of Muskego presently holds a cash bond
in the amount of $3,176.00 for the purpose of guarantying
the completion of 232 feet of 8" sanitary sewer with two
manholes and including sand backfill, and
WHEREAS, the purpose of the cash bond is to protect the
city against the worlananship and materials for a period of
one year after final approval of the work, and
WHEREAS, National Exchangor, Inc. has provided the city
with an insurance bond written by the Aetna Casualty and Surety
Company to protect the city in a manner similar to the cash
bond and have requested that the cash bond be released and
that the surety bond be accepted in its place, and
WHEREAS, the City Attorney has reviewed the surety bond
and given his approval,
THEREFORE, BE IT RESOLVED that the Cormnon Council of
the City of Muskego does hereby accept the substitution of
a surety bond in the amount of $3,176.00 in lieu of the
cash bond presently held.
BE IT FURTHER RESOLVED that the City Clerk is authorized
to release said
9 1975.
Mayor Jerome J. Gottfried
ATTEST :