82-6670R102
RESOLUTION N0. 6670
RESOLUTION AUTHORIZING CANCELLATION OF CERTAIN AD VALOREM
TAX LEVIES ON IMPROVEMENT BONDS OF 1982 FUND AND
REDUCING CERTAIN AD VALOREM TAX LEVIES
WHEREAS, Resolution No. 6597. provided for the sale of $515,000 Improvement
Bonds of 1982 and provided for taxes to be levied for the payment
of principal and interest thereon, and
WHEREAS, It appears desirable to cancel or reduce 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
interest return on these funds, 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 levied in 1982, collectible in 1983,
on Resolution No. 6597 in the amount of $70,300 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, this 4th
day of October, 1982.
R 15