84-6945R
RESOLUTIONI N0. 6945
RESOLUTION AUTHORIZING REDUCTION OF CERTAIN AD VALOREM
TAX LEVIES OF THE IMPROVEMENT BONDS OF 1973
WHEREAS, Resolution No, 4990 provided for the sale of $b,300,000 improvement
Bonds of 1973 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 in 1984 due to the extent that such reduction
. is possible by reason of substantial prepayment of special
assessments and the investment return on these funds, and
WHEREAS, There is presently funds available in the Improvement Bonds of 1973
Fund to pay current principal and interest on such bonds, and
WHEREAS, The ad valorem tax levy requirement includes a 5 percent excess
provision. .
NOW, THEREFORE, BE IT RESOLVID by the City Council of the City of Richfield,
Minnesota, as follows:
1. That the amount to be levied in 1984, collectible in 1985 on
Resolution No. 4990 in the amount of $b4,720 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 27th
day of September, 1984. ,, /~ /
ATTEST:
A
Sy v' K. Bergh i Clerk
CITY OF RICHFIELD, .MINNESOTA ANNUAL BUDGET