1964-3306r~~
RESOLUTION N0, 3306
RESOLUTION AUTHORIZING TRANSFER FROM WATER OPERATING FUND
TO Il'~,'ROVEMII~TT BONDS OF 1962 FUND AND GENERAL OBLIGATION
WATER BONDS OF 1962 FUNDS REDUCING CERTAIN AD VALOREM TAX
LEVIES
WHEREAS Resolution No. 2726 provided for the sale of ~2,500y000 Improvement
Bonds of 1962 and lev~.ed taxes for the repayment thereof.
WHEREAS, Resolution No® 2877 provided for the sale of X195009000 General
Obligation Bonds of 1962 and levied taxes for the payment thereofo
WFEaREAS, 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 THEREFORE, BE IT RESOLVED by the village council of the Village of Richfield9
Minnesota, as follows:
l• The transfer and appropriation of X539025.00 from the Water
Operating Fund to the Improvement Bonds of 1962 Fund is hsre-
by authorized and directed.
2. The transfer and appropriation of ~76~700,00 from the Water
Operating Fund to the General Obligation Water Bonds of 1962
Fund is hereby authorized and directed.
3. The 196l~ ad valorem tax levies 3r1 said Resolution Na. 272b in.
the amount of X53,025.009 toll®ctible in 1965, lev~..ed to pay
principal and interest obligations of the Improvement Bonds of
1962 Fund is hereby cancelled,
!~• The 196t~ tax levy 3.n said Resolution No. 2877 3n the amount of
X769700000, co].lect3.ble 3n 1965, levied to pay principal and
interest obligations of the General Obligation Water Bonds of
1962 Fund is hereby cancelled.
5. A copy of this resolution shall be sent to the County .auditor.
Passed by the council of the Village of Richfield this 8th day of Ootober, 196~.a
~~~ ~Q~,~s r~ Mayor
ATTEST:
.. ~ Manager
~~.er -' easurer