84-6946R
RESOLUTION N0. 6946
RESOLUTION AUTHORIZING CANCELLATION OF CERTAIN AD VALOREM
TAX LEVIES OF THE IMPROVEMENT BONDS OF 1977
WHEREAS, Resolution No. 5753 provided for the sale of $4,500,000 Improvement
Bonds of 1977 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 the
return of unused bond proceeds, and
WHEREAS, There is presently funds available in the Improvement Bonds of
1977 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, THEREFIORE, 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. 5753 in the amount of $14,700 is hereby
canceled.
2. That the amount of $107,800 is levied in 1984 for collection
in 1985.
3• 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,
day of September, 1984.
ATTEST:
this 27th
S via. Bergh ity Cler
CITY OF RICHFIELD, MINNESOTA
:ANNUAL