1965-3514rRMLVMN MOo 3514
RESOWTION AUTHORIZM SMSM FRM IATER OPERATING FUND
TO . MMUNT BONDS 0,2962 FUND AM GEMMAL OBLIGATION
W&M-BONDS OF 3,962 FUNDS, REDUCING MRTAIN AD VALORM TAX
MVIES:
WEEMS S,, Resolution "No, 2726 provided for the sale of $2, 900,9000 Improvement
Bondi of 1962 and levied taxes1or the repayment thereof®
IMMSo Resolution. NOW - 2877 provided for the sale of $1,,5009000 General
Obligation Bonds of 1962 and levied taxes for the payment tftrecte,
WHMEASp. 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
WEVMSS Such transfers shall be charged tto the Water Operating Funds-
NOW BE 'IT RESOLVED by -the city - counel.1 of the City of Richfteldq
Kinnesota., as followas-
4
The transfer and appropriation of. $180.346000 from the Water
Operating Fund to the Improvement Bonds of 1962 F is here -
4`
bit ,authori3ed and direetede-
The transfer and appropriation of $75S,60000 from the Water
Operating Fund to the General Obligation Water Bonds of 1962
Fund is hereby authorized and directed,
3,&
The 1965 ad valorem tax levies in -said Resolution Noe 2726 in
the amount of M9O75*009 collectible 4n 1966s levied to pay
principal and Interest obligations of the 'Improvement Bonds of
3962 Fund is hereby reduced to $33j,729eOO,&-
46-
The 2965 to levy in said Resolution Noe, 2877 in the amount of
$75#600*00a . collectible in 19658 levied to pay principal and
Interest obligations'of the General Obligation Water Bonds of
3962 Fund is hereby cancenede
50
A copy of this resolution shall be sent to the County Auditor®
Passed by the council of theVity of,Riohfield this 32th day of October, 1965,
t
ATTESTr
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