78-5970RV 1
RESOLUTIOI+t N0. 5970
RESOLUTION AUTHORIZING TRANSFER FROD?[VATER UTILITY FUND
TO WATER BONDS OF 1961 FUND AND REDUCING CERTAIN AD VALOREM
TAX LEVIES
WHEREAS, Resolution No. 2624 provided for the sale of $120,000
[--9ater Bonds of 1961 and provided for taxes to be levied
for the repayment of principal and interest thereon, .and
[VHEREAS, It appears desirable to cancel or reduce such ad valorem
tax levy to be levied in 1978 to the extent that such
_ reduction is possible by reason of transfer from the
[Vater 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.
NO[a, THEREFORE, BE IT RESOLVED by the City Council of the City of
Richfield, Minnesota as follows:
1. That the transfer and appropriation of $9,500 from
the UJater Utility Fund to the Water Bonds of 1961
is hereby authorized and directed.
2. That the amount to be levied in 1978, collectible
in 1979 on Resolution No. 2624, in the amount of
$10,000 is hereby cnacelled.
3. That a copy of this resolution shall be sent to the
Hennepin County Auditor.
Passed by the City Council o e City of R'chf field,
Minnesota this 5th day of October, ,.
Loren L.
ATTEST:
Thomas J. ~ ran City Clerk
Mayor