80-6295R51
RESOLUTION N0. 6295
RESOLUTION AUTHORIZING TRANSFER FROM WATER UTILITY FUND
TO WATER BONDS OF 1961 FUND AND REDUCING CERTAIN AD VALOREM
TAX LEVIES
WHEREAS, Resolution 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 1980 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 $10,450 from the
Water Utility Fund to the Water Bonds of 1961 is hereby
authorized and directed.
2. That the amount to be levied in 1980, collectible in
1981 on Resolution No. 2624, in the amount of $11,000
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 6th day of October, 1980.
•
ona d J. Prieb Mayor
ATTEST:
Sy is K. Bergh Acting City erk