79-6137RS
RESOLUTION N0. 6137
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 1979 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 $117,135 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 1979, collectible in
1980, on Resolution No. 3079, in the amount of $123,300
is hereby cancelled.
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 24th day of September, 1979.
ATTEST:
S via K. Bergh Actin ty Clerk