1968-4063r
IOLt7T'.~ON Tv0 0 x.063
1
R~OLUTION AUTHORZZ.CNG TR.PINSF~R FI~O~! 1a~ATBR OYrG ~'~Ji~7J TO
INLFROVFT BONDS OF 1962 FUND .AND GF~ITF~I- OBLTG.~TION W.A`1;
BONDS OF 1962 FUNDS RFIDUC~TG C~tTAnV .A13 ~TAI,O:~,~M T~ ~,~r
~~8 Resolution Noa 2726 pa;ovided fog the sale of $~85U08000 Irrip~oveine~at
Bonds of 1962 and levied taxes for the re~ayrraent there~fe and
~'~ 9 rsCn ~ ~.~.~A_~~rvi 'f~ae .S1sJl.~ ~Cf ,~°~iJ~~,®®0 `~T'~.~Y"cs.~.
obligation Bonds of 1862 and lev~.ed ta~ce~ for tn~~- payment ths~~~~~d8
• and
k~~~~•e It appears desirable vo can: el o~° ~Jeduce ~tac:~ ~:~~+. ~vox~snl tax
levies to the extent that such reduction is possible by reason
of transfers from the Water Utility a''unde and
~A58 Such transfers shall be cha~°ged to the Water Utility Funde and
~~e I~ appears desirable to cancel or reduce such remaining ad
valorem tax 1®vy to be levied in 1968 by reason that there a~
.~urr°®ntly sufficient funds available in the debt ~°®dempt,ion
fund to pay the principal and interest on th® abovve bonds iaa
1969.
C
NOW TI`F'ORF~B BFI IT RF~OL~I by the city council of the City of Richfielde
Minnesotae as follows
l6 The transfers and appropriation of $1783l~2.00 from the
W~.ter Utility Fund to the Improvement Bonds of 1962 Fund is
hereby authorised and dia~cted®
2® The transfer and appropriation of $1238500 from the Water
Utility Fund to the General Obligation Water Bonds of 1962
Fund is hereby autkaorized and directed.
3. The 196, ad valorem tax levies axa said Resolution No. 2726
in the amow~at of $1982259 colleot3.lale in 19698 levied to pay
principal and interest obligations of the Improvem®nt Bonda of
1..962 Fund is hereby cancelled.
~.® The 19~ ta~c le~yy in said Resolution Noo 2877 in the amount
of $1.2385008 collectible in 19698 levied to pay principal grad
interest obligations of the General Obligation Water Bonds of
1962 ~.ira.d is hereby cancelled.
5• ~ copy of this resolut3,pn shall b® sent to the County
~.ud3.tor.
Massed by the counci]. of the City of Richfield this ~th day of Octobere 1968m
A.ttsst~ ~~
~'
Tam orara9 City Clerk
Stanley W® Olsone Mayor