84-6942R76
RESOLUTION N0. 6942
RESOLUTION AUTHORIZING TRANSFER FROM WATER UTILITY FUND
TO IMPROVEMENT BONDS OF 1965 FUND AND REDUCING CERTAIN
AD VALOREM TAX LEVIES
WHEREAS, Resolution 1Vo. 344.2 provided for~the sale of $2,000,000
Improvement Bonds of 1965 and provided for taxes to be
levied for the payment of principal and interest thereon,
and
WHEREAS, It appears desirable to reduce such ad valorem tax levy
to the extent that such reduction is possible by reason
of transfer from the Water Utility Fund., and
WHEREAS, Such transfer shall be charged to the Water Utility Fund,
and
WHEREAS, It appears desirable to reduce such remaining ad valorem
tax levy to be levied in 1884, 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, Minesota, as follows:
1. That the transfer and appropriation of $20,000 from
the Water Utility Find to the Improvement Bonds of
1965 Fund is hereby authorized and directed.
2. That the amount of $61,100 be levied in 1884, collectible
in 1985
3. That a copy of this resolution be sent to the Hennepin
County Auditor.
Passed by the City Council of the City of Richfield, Minnesota, this 27th
day of September, 1984• ~ ~ 7
ATTEST:
y vi erg City C k
CITY OF RICHFIELD, NESOTA
ANNUAL