1966-3713r~~0
RBSOLU'TION NO. 3713
RESOLUTION AUTHORIZING TRANSFER FROM WATER OPERATING FUND
TO IMPROVBMBNT BOND5 OF 1961 FUND AND.WATBR BONDS OF 1961
FUND, REDUCING AD VALOREM TAX LSVIBS
'~~BRBAS, Resolution No. 2624. provided for the sale of $1,155000 Improvement
' Bonds of 1961 and levied ta?ces for the repayment thereof.
WHEREAS, Said resolution also provided for the same of .$120.,000 Water Bonds=
of 19b1 and Levied taxes for the payment thereof.
W~iBR8~1S, It appears desirable to cancel or reduce. such ad valorem tax levies.
ta,.tl~e extent that such reduction is possible by reason of transfers
from the water operating .fund, and
~HBRBpiS'~ Buch transfers shall be charged to the Water Operating Fund,
NOW THBRBPORB, BB IT RBSOLVBD by the city c®uncii of the City of Richfield,
Minnesota, as follows:
1. The transfer and appropriation of $21,717.00 from the Water
Operating Pund to the Improvement Bonds of 1961 Fund is here-
by authorized and directed.
2• That transfer and appropriation of $9,000.00 from the Water
Operating Fund to the Water Bonds of 1961 Pund is hereby
authorized and directed.
3. The 1966 ad valorem tax levy is said Resolutions No. 2624 in
the amount of $45,000, collectible in 1967, levied to paq
principal and interest obligations of the Improvement Bonds
®f 1961 Fund is hereby reduced to $23,23,00.
4. The 1966 ad vaiotem tax levy is said Resolution N®. 2624 in
the amount of $9,000 collectible in 1967, levied to pay prin-
cipal and interest obligations of the Water Bonds of 1961
is hereby cancelled..
5. A copy of dais resolution shall be sent to the County Auditor.
passed by the council ®f the City o.f Richfield this loth day ®f October, 1966•
Attest:
&lward J. oline, Clerk®Treas.
~,~ e C~.>2~~
' Stanley W; Olson, M~.yor
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