78-5973RV.J
RESOLUTION N0. 5973
RESOLUTION AUTHORIZING TRANSFER FROM taATER 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
6vHEREAS, 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
Water Utility Fund, and
taHEREAS, Such transfer shall. be charged to the Water`Utility
Fund, and
WHEREAS, The ad valorem tax levy requirement includes a 5o excess
provision.
NOtiV, THEREFORE, BE IT RESOLVED by-the City Council of the City of
Richfield, Minnesota as follows:
1. That the transfer and appropriation of .$120,460
from the [Vater Utility Fund to the Water Bonds
of 1963 Fund is hereby authorized and directed.
2. That the amount to be levied in 1978,. collectible
in 1979, on Resolution No. 3079, in the amount of
$126,800 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 hfield, Minnesota this
day of October,. 1978.
o en L. Law Mayor .
ATTEST: .
Thomas J. M an City Clerk