1969-4268r~~
~, re.~.-
RESOLUTION N0, 42 68
RESOLUTION AUTHORIZING TRANSFERS FROM IMPROV.CMENI' BONDS 0~' 1954
AND WATER UTILITY FUNDS TO IMPROVEMENT BONDS OF 1961 FUND A~1D
REDUCING CERTAIN AD VALOREM TAX LEVEES
WHEREAS9 Resolution Noe 2624 provided for the sale of $19155,000 Improvement Bonds
of 1951 and provided for taxes to be levied for the repayment rf principal
and interest thereon, and
WI~REAS, It appears desirable to cancel or reduce such ad valorem tax levies to 'fie
levied in 1969 to the extent that such reduction is possible by reason of
transfers from the Improvement Bonds of 1954 Fund and the Water Utility
Fund9 and
WHEREAS, There is presently sufficient funds available in the Lnprovement Bonds of
1954 Fund to pray all remaining principal and interest on such bond, and
WHEREAS, Such transfer from the Improvement Bonds of 1954 Fund shall be from surplus
monies not needed for the repayment of principal and interest in that fund,
and
WHEREAS9 Such transfers shall be charged to the Water Utility Fund,
NOW THEREFORE, BE IT RESOLVED by the city council of the City of Richfield,
Minnesota9 as follower .
1, That the transfer and appropriation of $19,661 from the Improvement
Bonds of 1954 Fund to the Improvement Bonds of 1951 Fund is hereby
authorized and directed, '
20 That the transfer and appropriation of $189339 from the Water Utility
Fund to the Improvement Bonds o~ 1961 Fund is hereby authorized and
directed,
30 'T`hat the amount to be levied in 1969 collectible in 1970 on Resolution
Noo 2624 in the amount of $389000 is hereby cancelledo
4o Tha:t a copy of tY~is resolution shall be sent to the Hennepin County
Audito~o
Passed by the council of-the City of Richfield this 30th day of September9 19690
w -~-a~-~
Stanley Wa 01son9 Mayor
ATTEST r ~ ~G~(~
Thomas Ja oran, City C1er1c
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