82-6663R95
RESOLUTION N0. 6663.
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
WHEREAS, It appears desirable to cancel or 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 cancel or reduce such remaining
ad valorem tax levy to be levied inI.982 by reason that
there are currently sufficient funds available in the
debt redemption fund to pay in .3983 the principal and
interest on the above bonds, and
WHEREAS, The ad valorem tax Ievy requirement includes a 5% excess
provision.
NOW, THEREFORE, BE IT RESOLVED 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 to be levied in 1982 , collectible in
1983 on Resolution No. 3442 in the amount of $102,500
is hereby canceled.
3. That a copy of this resolution be sent to the Hennepin
County Auditor.
Passed by the City Council of the City of ichfield innesota,
this 4th day of October, 1982. n ~ ,~~~
ohn Halton Mayor
ATTEST:
Sy is K. Bergh C y Clerk
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