1964-3303r~~
RESOLUTION N0, 3303
R&SOLUTION AUTHORIZING PERMANENT TRANSFER FROM LIQUOR. STORES
PUND ZO BONT~ OF 1963 FUND AND REDUCYIVG CERTAIN AD VALOREM
TAX L8VIE5
WHBREKS, Resoiu tion No, 3079 provided for the sale of $1,700,000,00 l+~ater
Bonds of 1963 and levied taxes for the repayment there of .
'DPFiBRBf~S', Since wafer improvement is in the nature of the type for which the
village has issued general obligation bonds for as specified in
ordinance.No. 15.OB8 and that such a transf er is considered such
an authorized expenditure, and
k~RBK3, 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 funds and
WHBRBfiS, It appears to be desirable to transfer funds from Liquor Stores
Fund to the hater Bonds of 1963 Pund in order to make monies avaii®
able for the payment of principal and interest on such bond issues
N0~1 THBRBFORE, BE I~T RESOLVED by the village council of the Village of
Richfieide Minnesota, as foilowss
1; 'The permanent transfer of $50,000.00 from the net es.rnings
for-1965 of the Liquor Stores Pund ~ the Water Bonds of 1963
Fund is hereby authorized and directedo
2. The 1964 ad valorem tax levy in said Resolution No, 3079 in
the amount of $508000,00, collectible in 19658 levied to pay
principal and interest obligations of the mater $ond~ of 1963
Fund is hereby cancelledo
3. A copy of this resolution shalx be sent to the County Auditor,
Passed by the council of the Village of Richfield this 8th day of Octobers
1964.
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