80-6292R48
RESOLUTION N0. 6292
RESOLUTION RELATING TO THE DISCONTINUATION OF THE
IMPROVEMENT BONDS OF 1959 DEBT
SERVICE FUND AND TRANSFER OF SURPLUS
WHEREAS, On June 1, 1959, the city council issued Special Assessment
Improvement bonds in the amount of $600,000, and
- WHEREAS, Final payment for principal and interest maturities was
made on December 1, 1979, and
WHEREAS, A major portion of the delinquent special assessments had
been collected,~and
WHEREAS,. It appears desirable to discontinue this fund.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Richfield,
Minnesota, as follows:
1. The appropriate cash surplus of $33,912 in the
Improvement Bonds of 1959 Fund be transferred to
the Improvement Bonds of 1960 Fund.
2. The Improvement Bonds of 1959 Fund be discontinued
as of December 31, 1980.
Passed by the City Council of the City of Richfield, Minnesota,
this 6th day of October, _1980.
r
onald J. Priebe ayor
ATTEST:
Sylvi Bergh Acting City Cle