83-6808R34
RESOLUTION N0. 6808
RESOLUTION RELATING TO THE DISCONTINUATION OF THE
IMPROVEMENT BONDS OF 1860 DEBT '.
SERVICE FUND AND TRANSFER OF SURPLUS
WHEREAS, On November 1, 1959, the City Council issued Special Assessment
Improvement Bonds in the amount of $620,000; and
WHEREAS, Final payment for principal and interest maturities was made on
February 1, 1882; and
WHEREAS, A major portion of the delinquent special assessments had been
collected; and
WHEREAS, It appears desirable to discontinue this fund.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Richfield,
------ Minnesota, as follows:
__
1. The appropriate cash surp ltrs of $15 , 300 in the ,
Improvement Bonds of 1860 Fund be transferred
to Debt Service Reserve Fund.
2. The Improvement Bonds of 1860 Fund be discontinued
as of December 31 , 1983
Passed by the City Council of the City of Richfield, Minnesota,
this 28th day of September, 1983.
ATTEST:
Sylv' K, Bergh City Cler