1968-4088r~w~
~DLUTTON N0. 108$
R~'uOLUTTON ATJTHORT~C Na DISC~NTTNUANCF7 OF PA,RTL BONDa
OF 1957 DFJBT Rk~DF~IPTTON FUND AND APPROPRTATTON OF
SURPLUS FOR OE~L PURPOSES
WHFII~AS, Resolution No. 13$3 dated July 22, 1957 provided for the
sale of Pax°k Bonds of 1957 and levied taxes for the payment thereof,
and
RFdAS~fl a separate debt redemption fund was created by this resolu®
tion to account for the principal and interest payments, and
1~~~-S~, all debt service requirem®nts have been met and the out-
standing debt has been paid in full,.. and
-, there appears to be surplus moneys ixi this fund,. and
~AS9 the 19b8 budget document anticipated the discontinuance
of this fund and provided in its revenues. the appropriation of such
surplus moneys for general. purposes,
NOTE THF~REFORE~, B~ TT RF.~SOLVP~D by the City Council of the City of
Richfield as followss
1. That the transfer and appropriation of the $1.0,936,d9 surplus
moneys is hereby authorized and directed for general purposes.
2.- The Park Bonds of 1957 Redemption Fund created by Resolution
No.~.1383 is hereby discontinued.
3. That the manager and director of finance are hereby authorized
and directed to do all. things necessary to effect the terms of this
resolution during the year ended December 31, 19~.
Passed by the council. this 25th day of November, 19E~.
`Stanley- .Olson, Mayor
Attest
Tom Moran,: ty Clerk
~I