81-6503R:i0
RESOLUTION N0. 6503
RESOLUTION AUTHORIZING TRANSFER FROM WATER UTILITY FUND
TO WATER BONDS OF 1961 FUND AND REDUCING CERTAIN AD VALOREM
TAX LEVIES
WHEREAS,. Resolution No. 2624 provided for the sale of $120,000 Water Bonds
of 1961 and provided for taxes to be levied for the repayment of
principal and interest thereon, and
WHEREAS, It appears desirable to cancel or reduce such ad valorem tax levy
to be levied in 1981 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, 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 transfer and appropriation of $9,500 from the
Water Utility Fund to the Water Bonds of.1961 is hereby
authorized and directed.
2. That the amount to be levied in 1981, collectible in
1982 on Resolution No. 2624 in the amount of $10,000
is hereby canceled.
_ 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
5th day of October, 1981.
ATTEST:
Syl a K. Bergh City C1