83-6811R37
RESOLUTION N0. 6811
RESOLUTION AUTHORIZING TRANSFER FROM WATER UTILITY FUND
TO IMPROVEMENT BONDS OF 1965 FUND AND REDUCING. CERTAIN
AD VALOREM TAX LEVIES
WHEREAS, Resolution No. 3442 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
WH~tEAS, 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 1983, and
WHEREAS, The ad valorem tax levy requirement includes a 5 percent
excess provision.
NOW, THEREFnRE, BE IT RESOLVID by the City Council of the City
of Richfield, Minnesota, as follows:
1. That the transfer and appropriation of $20,000 from
the Water Utility Fund to the Improvement Bonds of
1965 Fund is hereby authorized and directed.
2. That the amount of $79,700 be levied in 1983, collectible
in 1984
3. That a copy of this resolution be sent to the Hennepin
County Auditor.
Passed by the City Council
this 28th day of September, 1983•
ATTEST:
Sylv,' Bergh Ci Cle