9 of 1931 - A resolution accepting the sum of $120,000.00 from the United States Fidelity and Guaranty Company ( REMARKS:
Resolution No. 9
By Commissioner Fehr
AcceLtinC the sure s.
20,000.00 from the U.S. . !
Go.Co., the American Surety
of 7.y. and the NationrJ1 Suretyi
Co. for .11ezed shortaes or
1 breach of duties of or by
2obt.H, Yorng or 2rauk Godbee
asCity Treasurers of Salt Lake
City and enstructi Of the City
Ittoruey to dismiss all actions.
PreMOW to the Sived of Commissioners
AN) P/ME.0
APRIW931
Gil-V
1:07:44 7;ptizedimis44
wiscoeriese,
•
ROLL CALL
Salt Lake City,Utah, A. Pil 29 19_ 1,,"
VOTING AYE NAY p """`
Burton - I move that the resolution be adopted.
Fehr -
Finch
Lake
Mr.Chairman •
RESOLUTION
Result - - -
WHEREAS, there are now pending in the District Court of
the United States for the District of Utah, Central Division,
four actions, in all of which Salt Lake City is plaintiff, in one
of which United States Fidelity & Guaranty Company and the American
Surety Company of New York are defendants, in one of which United
States Fidelity & Guaranty Company, American Surety Company of
New York and National Surety Company are defendants, in one of which
United States Fidelity & Guaranty Company is defendant, and in one
of which American Surety Company of New York is defendant, which
said actions are upon bonds of said defendants, as therein describ—
ed, for alleged shortages or breach of duties of or by Robert N.
Young or Frank Godbe as City Treasurers of Salt Lake City; and
MIEREAS, United States Fidelity d Guaranty Company has
offered to pay the suet ofs''110,667.55, the American Surety Company
of New York the sum of $7,338.55, and the National Surety Company
the sum of $1,993.90, or a total of $120,000.00, to Salt Lake City,
in full settlement of all of said actions and for full release and
discharge of them and each of them under said bonds and the surrender
and cancellation of all of said bonds sued upon in all of said
actions; and
WHEREAS, it is for the best interests of the City that
settlement be made as aforesaid:
NOW, THEREFORE, BE IT RESOLVED that upon payment by said
-
three surety companies to Salt Lake City of the respective sums
hereinabove set forth, aggregating $120,000.00, the City Attorney
be and he is hereby authorized and instructed to dismiss all of
(said actions upon the merits, and the Mayor of Salt Lake City hP
end he is hereby authorized and directed to sign and execute in
i the name and on behalf of Salt Lake City, and the City Recorder is
hereby authorized and directed to countersign and affix the seal
of Salt Lake City, and deliver to said respective surety companies,
full and complete releases of said respective surety companies
from all liability whatsoever under and by reason of the surety
ilbonds, and all thereof, described in and sued upon in said actions,
4 land the City recorder be and she is hereby authorized and directed
t
il to surrender said bonds to the respective surety companies named
therein for cancellation.
___ __4---r_'
1 I
-I Adopted by the Board of Commissioners of Salt Lake City,
Utah, this 1 —_day of _ —_, 19'
Mayor.
City Recorder.
II
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