1968-4089r~~~
R~50LUTTON N0. x.089
RFi.SO~IJT7:ON AUTHORIZ711G DISCONT]NUANCFI OF VILLAGE
HALL BONDS OF 7951, DEBT RFdD~NIPTION FUND AND
APPROPE~IA,TION OF SURPLUS FOR ~R9kL PURFOSF,l4
ti~ ,a Resolution dated March 178 1951:. provided for the sale of
Village Hall bonds.: of 1951 and levied taxes for the repayment thereofe
and
T~HF~R7,a~ a separate debt redemption fund was created by this resolution
to account for the principal and interest paymentsa and
b~~S9 a7e7 debt ser~i.ce requirements have been met and the outstandm
ing debt has been laid in fu118 and
1~AS'a there appears to be surplus moneys in this funds and
~fiF~R7sAS~ the 7968 budget document anticipated the discontinuance of
this fund and provided in its revenues the appropriation of such surplus
moneys for general. purposes .
N0~' THF~REFORF~e BFI IT RP~50LVFJD by the pity council of the City of Richfield
as follows.a
l.. The transfer and appropriation of the approximate $5000..00 surplus
moneys is h®reby authorized and directed for g®nera7 purposes..
20 The Village Hall Bonds of 1957;. Debt Redemption Fund created by
resolution dated March 79 ].957 is hereby discontinued.
3. That the manager and director of finance are hereby authorized and
directed to do a17 things necessary to effect the terms of this resole=
tion during the year end®d December 31, 1968.
Passed by the City Council this 25th day of November9 19680
~J °
Star.ey W'. Olson9 Mayor
L~ttesto ~
~~~
Tam Morans City Clerk
u