78-5975R87
RESOLUTION NO. 5975
RESOLUTION AUTHORIZING CANCELLATION. OF CERTAIN AD VALOREM
TAX LEVIES ON I1~IPROVE1IENT BONDS OF 1967 FUND AND
AND REDUCING CERTAIN IUD VALORENI TAX LEVIES
6VHEREAS, 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 there-
- on, and
tiVHEREA5, It appears desirable to cancel or reduce ad valorem tax
levies to be levied in 1978 due to the extent that such
reduction is possible by reason of substantial pre-
payment of special assessments and the interest return
on these funds, and
LVHEREAS, The ad valorem tax levy requirement includes a 5~ excess
provision...
NO[~d, THEREFORE, BE IT RESOLVED_by the City Council of the City of
Richfield, Minnesota, as follows:
1. That the amount levied in 1978, collectible in
1979, on Resolution No. 3901 in the amount of
$3,500, is hereby cancelled.
2. That a copy of this resolution '.shall be sent to"
the Hennepin County Auditor.
Passed by the City Council of the City of Rich ld, Minnesota this
5th day of October, 19.78.
L ren L. Law Mayor
ATTEST:
Thomas J.oran City Clerk
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