HomeMy WebLinkAboutCC Res 2515 1976-01-12
.'
-.
.. ....;
I
RESOLUTION NUMBER ~~/~
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF SEAL BEACH APPROVING UNITED PACIFIC INSURANCE
COMPANY, FRANCHISE BOND NO. ,U80-51-20-73 FILED
DECEMBER 12, 1975 ON BEHALF OF STANDARD GAS
COMPANY UNDER ORDINANCE NO. 474; AND EXONERATING
THE AMERICAN INSURANCE COMPANY FROM LIABILITY
UNDER ORDINANCE NO. 474 RISING AFTER DECEMBER 15,
1975.
WHEREAS,
Ordinance No. 474 granted a certain pipe line and related
facilities franchise to Hancock Oil Company and its'
successors and assigns on June 28, 1955, upon condition
(Section 12 of Ordinance No. 474) that said franchisee
maintain wi~h the. City a $1,000.00 Franchise Bond conditioned
that franchlsee wlll well and truly observe, fulfill and perform
each and every term and condition of said.Franchise and in case
of a breach of condition of ~aid bond the 'whole amo~nt of the
penal sum therein named shall be taken and deemed to be liquidated
damages and shall be recoverable from the principal and surety
or sureties upon said bond; and
I
WHEREAS, Standard Gas Company, an Idaho corporation, a partial
assignee of said franchise from Hancock Oil Company, did,
as principal, on November 1, 1955 file with the City of
Seal Beach, Pacific Indemnity Company BQnd No. 311830 in
compliance with the provisions of Section 12 of said
Ordinance No. 474; and
WHEREAS, on November 17, 1970, Standard Gas Company, an Idafio
cor.poration, as principal, did file a new, substitute
replacement bond, namely, the American Insurance Company,
a New Jersey corporation, Bond No. SL-622304l with the
City of Seal Beach; and
WHEREAS, on December 12, 1975, Standard Gas Company, an Idaho
corporation, as principal, did file a new, substitute
replacement bond, namely, The United Pacific Insurance
Company, a California corporation, Bond No. U80-51-20-73,
with the City of Seal Beach; and
WHEREAS, the City Attorney of the City of Seal Beach has approved
the form of said The United Pacific Insurance Company, Bond
No. U80-51-20-73.
I
NOW, THEREFORE, the City Council of the City of Seal Beach does
resolve as follows:
Section 1. Pursuant to the provisions of Section 12 of Ordinance No.
474 the City Council of the City of Seal Beach does hereby approve
the United Pacific Insurance Company Franchise Bond No. U80-5l-20-73
filed herein December 12, 1975 on behalf of Standard Gas Company, an
Idaho corporation, as principal.
I
I
I
,.'
.-
. "
-..
Page Two-Resolution Number ~!)/~
Section 2. American Insurance Company, the former surety of said
Standard Gas Company, is and shall be exonerated from any liability
under its' said Bond No. SL-6223041 arising from and after December
15, 1975.
PASSED APPROVED and ADOPTED by the City Council oJF the City of
Sea.l Bach at a meeting thereof held on the /c::11!!. day of
( . 1976.
~~.~c~ ~
ayor
,
~
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) SS
CITY OF SEAL BEACH )
I, Jerdys Weir, City Clerk of the City of Seal Beach and ex-officio
clerk of the City Council of the City of Seal Beach, do hereby
certt~to the passage and adoption of the foregoing r~~olutioJlbY
theICit Council at a regular meeting thereof held on tne ~_ day
Of?l1./ru1d'~1 · 1976, by the followi,ng vote: c:!
AYES: councilmembersiZA ~~ 61t1.,t'.jp,tl/M;~/dhA~':~ J
NOES: councilmembers~' , ,4.ee.
ABSENT: councilmembers~
~.