82-6666R98
RESOLUTION N0. 6666
RESOLUTION AUTHORIZING REDUCTION OF CERTAIN AD VALOREM
TAX LEVIES OF THE IMPROVEMENT BONDS OF 1973
WHEREAS, Resolution No. 4990 provided for the sale of $6,300,000 Improvement
Bonds of 1.973 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
1973 Fund to pay current principal and interest on such bonds,.
and
WHEREAS, The ad valorem tax levy requirement includes a 5 percent 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. 4990 in the amount of $57,377 is hereby
canceled.
2. 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 thi 4th day
of October, 1982. _ ~~ ,~~
ATTEST:
Sylvi Bergh City Cler
John ,14a3fiilfon Mayor
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