1969-4273rT4
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RESOLUTION N0. 4273
RESOLUTION AUTHORIZING `T'RANSFER FROM IMPROVEMENT BONDS Of' 1949
FUND TO IMPROVEMENT BONDS OF 1967-FUND AND REDUCING CERTAIN AD
VALOREM TAX LEVIES
WIIEREASa Resolution No. 3901, provided for the sale of $375,000 Improvement
Bonds of 1967 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 be levied in 1969 to the extent that such reduction is possible by reason
of transfer from the Improvement Bonds of 1949 Fund, and
WHEREAS, There is presently sufficient funds available in the Improvement Bonds
of 1949 Fund to pay all remaining :principal and interest on such bonds, and
WHEREAS9 Such transfer from the Impr-ovement Bonds of 1949 Fund shall be-from
surplus monies not needed for the repayment of principal and interest ian. that
fund,
NOW THEREFORE, BE IT RESOLVED by the city council of the City of Richfield
Minnesota, as follows:
~1. That the transfer and appropriation of $3,.500 from the
Improvement-Bonds of 1949 Fund ~o the Improvement Bonds of 1967
Fund is hereby authorized and :directed,
2a Zhat the amount levied in 1969 collectible in 1970 on
Resolution No. 3901 in the amount of $3,500 is hereby cancelled,
3. 'T`hat 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
Atteste
'T`homas J o ran, City Clerk
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