94-8191r53
RESOLUTION NO. 8191
RESOLUTION AUTHORIZING CANCELLATION OF CERTAIN AD VALOREM
TAX LEVIES ON REFUNDING IMPROVEMENT BONDS OF 1983
' WHEREAS, Resolution No. 6756 provided for the sale of $505,000
General Obligation Refunding Improvement Bonds of 1983 and provided
for taxes to be levied for the payment of principal and interest
thereon; and
WHEREAS, it appears desirable to cancel or reduce certain ad
valorem tax levies to be levied for 1995, due to funds on hand from
tax increments and the investment earnings thereon exceed the amount
necessary to pay principal and interest on such bonds; and
WHEREAS, the ad valorem tax levy requirement includes a 5 percent
excess provision.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Richfield, Minnesota as follows:
1. That the amount levied in 1994, collectible in 1995,
on Resolution No. 6756 in the amount of $5,800 is
hereby canceled.
2. That a copy of this resolution shall be sent to the
Hennepin County Auditor.
Passed by the City Council of the City of Richfield, Minnesota, this
12th day of September, 1994.
Martin J. 'rsch Mayor
ATTEST:
t ~~J ~~
Thomas P. Ferber City Jerk