1968-4061r~~~
R,~''~~UTION NO® l~O61
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RF~O~sUTION 1~TTHORI~IIVG TR~~F FRC1~A 'gip'.°~ OP~.TIIITC~ HIND
TO IL'~'ROS~IENT BONDS OF 1960 FUND ~1D REDUCING CF~TI~IN BD
V~LORE~'! T!~ LE~TIffi
~~S~g Resolutio~Noo 2~23,g 2609 and 2682 provided. x"ox~ filre s~1..e oi"
~b209000 Gen®ral Improvem®nt Bonds of i.960 agr.d levied t~ces fo~°
th® repayment th®reof'~ and
W.K~g It appears d®six°abl.® to Deno,®1 ®r reduoe such. ad ~~:~,o~;°em t lev~i,~s
the extent t~n.at such reduction is possib~.e ~by ~°e~son of tx°a~~~~~
Bars from the Water Utility Fundg and
~9 Such transfers shall be oharg®d to the ~Jater Ut~,:~.~.ty Furrd~ and
WI3>ASg It appears desirable to oancel or reduce such remaining ad sralox~em
tax levy to b e levied in 1968 by reason that there are currently
sufficient funds available in the debt redemption fund to pay
the principal and interest on the above bonds in 19690
NOW TF1739Ri~1;"ORE'9 BFJ IT RF~OhV1I~D toy the city council of the City of Richfieldg
Miv~nesotag as follows.o
ld The transfer and appropriation of $11~51~ from the Water
Utility Fund to the Improvement Bonds of 1960 Fund is hereby
authorized and clirecteda -
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Ze. The 1968 ad valorem tax levy in said Resolution No® 23~: ixr
the amount of $138200, collectible in 1969; levied to pay
principal and interest obligations of the Improvement Bonds of
19~ Fund is hereby cancelledm
~ s . The 1963' ad valorem tax levy in said Resolution Noa 2609 in
` amount of $109000 collectible 3n 19699 levied to pay princi~
pal and interest obligations of the Improv®ment Bonds of 19E~
Fund i„ hereby cancelled.
~4a The 19Ea ad valorem tax levy in said Resolution Nod 2862 in
the ,mount of $297509 collectibl®~ in 19699 levied to pay prin®
c3,pa1 and interest obligations of the Improvement Bonds of 1960
Hand is he reby cancellede
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Passed by the council of the City of Richfield this ~th day of Octobers 19680
~ttesta
Go/
Tom MOran9 City Cler1~
W a ia+~..~
ley W®0 song Mayor