1967-3879r1~8
RESOLUTION N0 0 38 79
RESOLUTION AUTEiORI2I1~ ZItANS1aER FROM WATER OPERATYl~ PUND Zq
IMPROVEMBIJT BONDS OF 1962 FUND AND GENERAL OBLIGATION WATBR
. BONDS OF 1968 FUNDe REL(l'CIIVG CBRTAIN AD VALOREM TAX LEVIES
WIiER'EAS9 Rc~saiutian No0 2786 provided for the sale of $2 8 500 9 000 Improvement
Bondi of 1962 end levied taxes for the repayment thereof 0
WHEREAS9 Resalutioe~ Na0 2877 provided for the sale of $1 9 500 9 000 General
tl~iigation Bands of 1962 and levied taxes for the payment thereof 0
W~IBI~EAS9 Yt appears desirable to cancel or reduce such ad valorem tax levies
to the extent that such reduction is possible by reason of transm
fats from the water ®perating fund9 and
W~IEREAS9 Such transfers shah be charged to the Water operating Funde
N~V TI-ffiREFOREe BE IT RESOLVED by the city council of the City of Richf ield9
Minnesota9 as foilows4
l0 The transfer and appropriation of $17 9 6 75 0 00 from the Water
®perating Fund t® the Improvement Bonds of 1962 Fund is harem
by authorised and directed0
80 The transfer and appropriation of $12x9500000 from the Water
Operating -Fund to the General Obligation Water Bonds of 1962
Fund is 7~~'eby authorized and directed0
3a The 1967 ad valorem tax levies in said Resolution No0 8726 in
the amount of $509175, collectible in 19689 levied to pay
g~rincipal and interest obligations of the 'Improvement Bonds of
1968 Fund is hereby reduced to $3895000000
4a The 1967 tape levy in said Resolution No0 8877 in the amount of
$18595000009 collectible in 19688 levied to pay principal and
interest obligations of the General obligation Water Bonds of
19~i8 Fund is hereby cancel ied0
5o A copy of this resolution shall 'be sent to the County Auditor0
Passed by the counci 1 of the City of Richfield this 9th day of October9 19670
~~
Stanley Wo 0lsone Mayor
Attest o (~en "~ ~'~i~,c.e~
EdraO J 00 iin 9 Clerk=°T~'~as0
1