81-6508R35
RESOLUTION N0. 65.08
RESOLUTION AUTHORIZING CANCELLATION OF CERTAIN AD VALOREM
TAX LEVIES ON IMPROVEMENT BONDS OF 1967. FUND AND
REDUCING CERTAIAt+ AD VALOREM TAX LEVIES
WHEREAS, Resolution No. 3901-provided for the sale of $275,000 Improvement' s
Bonds of 1967 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 1981 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.
NO;~I, THEREFORE, BE IT RESOLVED by the City Council of the City of Richfield,
Minnesota, as follows:
1. That the amount levied in 1981, collectible in 1982,
on Resolution No. 3901 in the amount of $3,500 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 5th
day of October, 1981.
ATTEST:
Syl a K. Bergh Ci Clerk