1968-4066r~~D~3
R~oLUTION N0. x.066
RESOLUTION AUTHORIZING TRAIVSFF~R FROM I:t~ff'ROV.C`~TT BONDS
OF 1919 DEBT RF1'DEMPTION FUND AND REDUCING CERTAIN AD
VALOREM TAX LEVIES
WHE~.S9 Resolution No. 3901 provided for the sale of X3759000 Improvement
Bonds of 1967 and levied taxes for the repayment th®reof~ and
~` 9 It appears desirable to cancer or reduce such ad val Dram tax
levy to be levz.ed in 1968 to the extent that such reduction is possible
by reason of transfer of surplus from the Improvement Bonds of I9l~9 Fund9
and
W~~'~9 The Improvement Bonds: of 19.9 Fund currently has cash surplus
in excess: of its remaining bond and interest pa~nent requirementso
NOW THERE'FORE9 BE IT REi50LVE~D by the city counc3.1. of the City of
Richfield that:
1® The transfer and appropriation of ,~y3~500 from the Improvement
Bonds of 1919 Fund to the Improvement Bonds of 1967 Fund is
hereby authorized and directedo
20 The 1968 ad valorem tax levy in said Resolution Nov 3901 in the
amount of $3500 collectible in 19699 levied to pay principal and
interest obligations of the Itapravement Bonds of 1967 Fund is
hereby cancelled.
3. A Dopy of this resolution shall. be sent to the County Auditoro
B'assed by the council of the City of Richfield this ~th da~r of October9
1968 .
Stanley W. Olson9 Mayor
A,ttest~ d
~ ~~'~~-
Zhomas Jm oran9 City Clerk
1