1963-3118r~ ~~
RBStILUTION N0. 3118
R890LUTYON AU~IORIZII~IG 1RANSFBR FROM WAZBR OPTINf~ F1J1-ID
1CD IMFRt?VBN~NT RONDS OF 1962 F111~ AND GSNBRAL OBLIGATION
WATER FOND; OF 1962 FUI~, RED[JiCI1VG CBRTAIN AD VALOREM T.dX
DIES
'9~1tBAS, Resolution No. 2?26 provided for the sale of_$2,500~000 Improvement
Roads ®f 1962 and levied taxes for the repayment thereof .
VUHEREI~S', Resolution No. 28?? provided for the aerie of $1,500e000 General
Obligation Bonds of 1962 and levied taxes for the payment thereof.
Wt18RBASp It appears desirable to cancel or reduce-such ad valorem tax levies
to the extent that such reduction is possible by reason of transfers
from the water operating fund, and
WHEREAS, Such transfers shall be charged as an expense to the Water Operating
Fund ,.
NOW THBREFORB, BE IT RB'~OLVED~by the village council of the.Village of
Richfield, Minnesota, as follows.
1. The trashsfer and appropriation of $53,9?5.00 from the Water
Operating Fund to the Improvement Bonds of 1962 Furl is here-
by authorized and directed,
2, The transfer and appropriation of $50,400.00 from the Water
Operating Fund to the General Ob13:gation Water Bonds of 1962
Fund is hereby authorized and directed.
3. The 1963 ad valorem tax levies in said Resolution No, 2726 in
the amount of $53,975.00, collectible in 1964, levied to pay
principal and interest obligations of the Improvement Roads of
1962 Fund is hereby cancelled,
4, The 1963 tax levy in said Resolution No, 28?? in the amount of
$50400.00, collectible in 1964, levied to pay principal and
interest obligations of the General Obligation Water Roads of
1962 Furst is hereby cancelled. ~~
5, A copy of this resolution shall be sent to the county Auditor.
Passed by the c®uncii of the Village of Richf laid this 8th day of October, 1963,
. ~`a - ~~~~-e Mayor
.ATTEST: ~ ~ ~ Mara agar
clerk- reasur r
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