1969-4272r~~
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RESOLUTION N0. 4272
RESOLUTION AUTHORIZING `TRANSFER FROM WATER UTILITY FUND TO
IMPROVEMENT BONDS OF 1965 FUND-AND REDUCING CERTAIN AD
VALOREM TAX LEVIES
WHEREAS, Resolution No. 3442 provided for the sale of $2,000,000 Improvement
Bonds of 1965 and provided for taxes to be levied for the repayment
of principal and interest thereon, and
WHEREAS, It appears desirable to cancel or reduce such ad valorem tax levy
to the extent that such reduction is possible by reason of transfer
from the Water Utility Fund, and
WHEREAS, Such transfer shall be charged to the Water Utility Fund, and
WHEREAS, It appears desirable to cancel or reduce such remaining ad valorem
tax levy to be levied in 1969 by reason that there are currently
sufficient funds. available in the debt redemption fund to pay in
1970 the principal and interest on the above bonds.
NOW THEREFORE, BE TT RESOLVED by the city council of the City of Richfield,
Minnesota, as follows:
1. That the transfer arnl appropriation of $25,493 from-the Water
Utility Fund to the Improvement Bonds of 1965 Fund is hereby authorm
ized and directed.
2. That the amount to be levied in 1969 collectible in 1970 on
Resolution No. 3442 iri the amount of $136,000 is hereby cancelled,
3. That a copy of this resolution shall be sent to the Hennepin
County Auditor.
Passed by the council of the City of Richfield this 30th day of September, 1969.
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Stanley W. Olson, Mayor
Attest: U1-,/ /' G'~
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Thomas J, $n, City Clerk
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