Yakima seeks termination of bond

Yakima Company has filed a motion seeking the court’s help with terminating the performance bond it took out to secure its operations in La Paz County in 2004.

The motion, for an order “to show cause why performance bond should not be released, exonerated, or otherwise extinguished,” states that there is no reason for the bond to exist, and asserts that the County has “not cooperated” with its release. Since Yakima cannot terminate the bond on its own, it is asking for the court’s help in doing so.

Yakima’s annual premium for the bond, according to the motion, is $25,000 per year. Yakima is asking the court to hear its motion on May 26th.

The obligations created by the bond were at the center of the controversial lawsuit which led to a judgment against La Paz County for over $9 million in 2007.

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