Loading...
1966-3712r~~~ R850LUTION N0. 3712 RBSOLUTION AUT-IORIBING TRANSFER FROM WATER OPBRATII+~ FUND TO IMPROVFMBNT BONDS OF 1962 FUND AND GHNERAL OBL7CGATiON WATER BONDS: OF 1962 FUND, REDUCING CERTAIN AD VALORBM TAX. LEVIES WHEREAS, Resolution No. 2726 pr~svided.for the sale of $2,500,000 Impr©vement Bonds of 1962 and levied taxes for the repayment thereof, WHBRFAS~, .Resolution No. 2877 provided- for the sale of $1,500,000 General. Obligation B®nds~ of 1962 and levied taxes f®~ the payment thereof. 4~iBREAS, It appears desirable t o cancel .ox reduce such ad val©rem tax levies t©. the e~ctent that such reduction is possible by reason of .transfers $rom the water operating fund, and WH8RBA5, Such transfers sha11 be charged to the Water Operating Fund, NOW THEREFORE, BB IT RESOLVED by the city council of the City of Richfield, Minnesota, as foliowss 1. The transfer and appropriation of $18,011.00 from the Water Operating Fund to the Improvement Bonds of 1962 Pund is here- .. by authorized and directed. 2. ~:'he transfer and appropriation of $127,500.00 from the Water Operating .Fund to the General Obligation Water Bonds ®f 1962 . .Fund is hereby authorized and directed. 3, The 1966 ad valorem tax levies in said Resolution No. 2726 in. the amount of $51,125,00, callectible in 1967, levied t® pay principal and interest obligations of the Improvement Bonds of X962 Fund is hereb~v reduced to $33,11.00. . 4, The 196b tax l~:vy in said Resolution No, 2877 in the amount of $127,500,00., collects.ble in 1967, levied to pay principal and interest obligatiot~ of the General. Obligation Water Bonder of 1962. Fund is herebg~ cancelled, . 5, A copy mf this resolution shall be sent to the. County Audi tor. Fass.ed ,by the c®uncil of. the City of Richfield this 10th day of October, 19660 attests ~~~ d Sdtnrard J. Mo i~ n~, ~Cleric~»Tre~~ Stanley t+V. Oi on, Mayer .~~ l~ 3~