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25. Upon the effective date hereof the Company may reduce the <br /> Performance Bonds now in place to one (1) Performance Bond <br /> in the;-amount of Fifty Thousand Dollars ($50, 000) naming all <br /> ten (10) Member Cities as Secured Parties and eligible <br /> drawers thereon. The Performance Bond shall be replenish- <br /> able so that each time any one City draws thereon or makes a <br /> claim against such Bond, the Company shall immediately <br /> replenish the one Bond. It is further agreed that at any <br /> time, for the term of the Franchise Ordinance, or any <br /> renewal thereof, the Commission or any Member City in its <br /> sole discretion may require the amount of the one replenish- <br /> able Performance Bond to be increased to an amount not to <br /> exceed Two Hundred Fifty Thousand Dollars ($250, 000) . <br /> 26. This Resolution was moved by Councilmember Marks and <br /> seconded by Councilmember Enrooth <br /> The following Councilmembers voted in the affirmative: <br /> Marks, Enrooth, Makowske, Ranallo, Wagner <br /> The following Councilmembers voted in the negative: <br /> None <br /> Adopted this ,210-1h day of 1990. <br /> CITY OF ST. ANTHONY <br /> �.ts. <br /> �}' n Mayor <br /> ATTEST: <br /> City Clerk <br /> Reviewed for Administsration: <br /> Cit anager <br />