80-6300RRESOLUTION N0. 6300
RESOLUTION AUTHORIZING CANCELLATION OF CERTAIN AD VALOREM
TAX LEVIES ON IMPROVEMENT BONDS OF 1967 FUND AND
REDUCING CERTAIN AD VALOREM TAX LEVIES
WHEREAS, Resolution No. 3901 provided for the sale of $275,000 Improvement
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 1980 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 1980, collectible in 1981,
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
6th day of October, 1980.
ATTEST
G
Syl a K. Bergh Acting City erk