HomeMy WebLinkAbout2904 RESOLUTION NO. 2,904
A RESOLUTION AUTHORIZING THE RELEASE OF TRI-STATE IN-
SURANCE COMPANY FROM ITS OBLIGATION TO THE CITY OF
LITTLE ROCK FOR THE SUM OF SEVEN THOUSAND TWO HUNDRED
SIXTY EIGHT AND NO/100 DOLLARS ($7,263.00) ; AUTHORIZING
DISMISSAL OF THE PENDING LITIGATION AGAINST TRI-STATE
INSURANCE COMPANY; AND FOR OTHER PURPOSES .
BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY OF LITTLE
ROCK, ARKANSAS:
SECTION 1. For and in consideration of the payment to the
City of Little Rock of the sum of Seven Thousand Two Hundred
Sixty Eight and No/100 Dollars ($7 ,263 .00) , the Mayor and City
Clerk are authorized to release Tri-State Insurance Company from
all claims under its bonds running in favor of the City of Little
cock and the Little Rock Municipal Water t-;orks arising out of
liability of its principal, Grady Garms, d/b/a Grady Garms Con-
struction Company, and the City Attorney is further instructed
and authorized to release the said Tri-State Insurance Company
from the action filed by the City of Little Rock against it and
Grady Garms, d/b/a Grady Garms Construction Company, identified
as Circuit No . 50550; provided, however, that said release of
Tri-State Insurance Company shall in no manner be worded or intended
as a release of Grady Garms from any and all further liability which
he may have to the City of Little dock.
SECTION 2. This resolution shall be in full force and effect
from and after its adoption.
ADOPTED: November 5, 1962
ATTEST: APPROVED:
City Clerk