1964-3307r~`~
1
RESOLUTION NO. 3307
RESOLUTION AUTHORIZING TRANSFER FROM WATER OPERATING-FUND TO
Il~ROVEMEN'I BONDS OF 1961 FUND ANll WATER ,BONDS OF 1.961 FUND,
REDUCING AD VALOREM TAX LE'VIE`S
L~
WIHERI~AS, Resolution No. 262lt provided for the sale of X1,155,000 Improvement
Bonds of 1961 and levied taxes far the repayment thereof.
WI~I~,EAS, Said resolution also provided for the sale of X120,000 Water Bonds
of 1961 and levied taxes for the payment t3~ereof.
WHEREAS, St 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
W ~ ~ ,such transfers shall be charged, as an expense to the Water Operat-
ing Fund,
NOW THE1?EF'ORE, BE iT RESOLVED by the village council of the Village of
Richfield, Minnesota, as follows:
1• The transfer and appropriation of ~~7,000 from the Water Operat-
ing Fund to the Improvement Bonds of 1961 Fund is hereby
authorized and directed,
2. That transfer and appropriation, of X9,000 from the Water
Operating Fund to the 1~ater Bonds of 1961 Rand is hereb~r
authorized and directed.
3. The l96l~ ad valorem tax lev3.es in said Resolution No. 2621
3.n the amount of $17,000 and X9,000, collectible in 1965, levied
to-pay principal and 3.nterest obligations of the Water Bonds of
1961 Fund is hereby cancelled. .
4. A copy of this resolution shah. be sent tot the County Auditor.
Passed bq the council of the Village of Richfield this Stn day of Octobers 19bt~.
ATTEST:
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