83-6813RRESOLUTION N0. 6813
RESOLUTION AUTHORIZING REDUCTION OF CERTAIN AD VALOREM
TAX LEVIES OF THE IMPROVEMENT BONDS OF 1973
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WHF,REAS, Resolution No. 4990 provided for the sale of $6,300,000 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 1983 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 bons, and
WHEREAS, The ad valorem tax levy requirement includes a 5 percent excess
provision.
NOW, THEREFnRE, BE IT RESOLVED by the City Council of the City of Richfield,
Minnesota, as follows: _______._ -
1. That the amount to be levied in 1983, collectible in 1984 on
Resolution No. 4990 iri the amount of $48,849 is hereby
canceled.
2. .That the amount of $12,200 be levied for 1983 for collection in
1984•
3. That a copy of this resolution shall be sent to the Hennepin
County Auditor.
Passed by the City Council of the City of the City of Richfield, Minnesota,
this 28th day of September, 1983.
ATTEST:
Sy a K. Bergh City erk