80-6298RRESOLUTION N0. .6298
RESOLUTION AUTHORIZING TRANSFER FROM WATER UTILITY FUND
TO WATER BONDS OF 1963 FUND AND
REDUCING CERTAIN AD VALOREM TAX LEVIES
WHEREAS, Resolution No. 3079 provided for the sale of $1,700,000 Water
Bonds of 1963 and provided for taxes to be levied for the
payment 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 $113,715 from
the Water Utility Fund to the Water Bonds of 1963
Fund is hereby authorized and directed.
2. That the amount to be levied in 1980, collectible in
1981, on Resolution No. 3079, in the amount of $119,700
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 nth day of October, 1980.
Donald J. -.Priebe
ATTEST:
`~
Sylvi K. Bergh Acting City Clerk
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