82-6665R97
RESOLUTION N0. 6665
RESOLUTION AUTHORIZING REDUCTION OF CERTAIN AD VALOREM
TAX LEVIES OF THE IMPROVEMENT BONDS OF 1972
WHEREAS, Resolution No. 4793 provided for the sale of $2,100,000 Improvement
Bonds of 1972 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 1982 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
1972 Fund to pay current principal and interest on such bonds,
and
WHEREAS, The ad valorem tax levy 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 amount to be levied in 1982, collectible in 1983
on Resolution No. 4793 in the amount of $2,500 is herei~y
canceled.
2. That the. amount of $100,000 be levied for 1982 for collection
in 1983.
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 this 4th day
of October, 1982. ~,
on Mayor
ATTEST:
Sy}affa K. Bergh City C
R 10