1957-1426r
RESOLUTION NO. 1426
RESOLUTION CANCELLING A CERTAIN GENBRAZ?TAX LEVIED POR
PAYMENT OF IMPROVEMENT BONDS OF 1950p SERTPS B, MUD LAKE,
AND DECLARING INTENT NCIT TO ISSUE $15.,000 AUTHORTZED.BUT
UNISSUED IMPROVEMENTT BONDS OF 1950, SERIES B
_-- s
WHEREAS, improvement bonds of 1950, series B, in the amount of $40,000,
maturity to 1961;, were au thorized by resolution at the regular council meet-
ing of October 9,. 1950 for purpose of defraying cost of acquisition of land
in trie completion of storm sewers Districts D, E and D3 draining into rfud
Lake,. and
'WHEREAS, $25,000 of such bonds were issued,. and have been redeemed to
date, and
WHBREAS, $15,000 of said authorized bonds are unissued to date, and
WHEREAS, a direct general tax has been levied upon ail taxable pro-
perty through the year 1959 for the payment of principal and interest on
$40,000 of said improvement bonds..
Nei THEREFORE, BE IT RESOLVBD by the Village Council of the Village
of Richfield as follows:~~
1, That it is hereby determined that all costs in the Mud Lake area
necessitating the sale of the unissued improvement bonds ~ 1950,~Series
B,, have been satisfied
2. That the remaining direct general tax levy for payment of princi-
pal and interest on said unissued bonds are hereby cancelled, said levies
to have been spread in the years 195?,. 1958 and 1959 for the respective
amounts of $4600, $4500 and $4400*
3. That the village clerk is authorized and directed to place with
the County Auditor a certified copy of the resolution.
Passed by the village council of the Village of Richfield this, 23rd
day of September,, 1957. ~ ~, ~ ~
Fred O. 11,, mayor
ATTEST: '
~~
O, R. reve en, Manager
Paul H. Haug , Vii]age Clerk