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1970-4461r RESOLUTION No. 4461 RESOLUTION AUTHORIZING TRANSFER FROM WATER UTILITY FUND TO WATER BONDS OF 1961 FUND AND REDUCING CERTAIN AD VALOREM TAB LEVIES WHEREAS, Resolution No. 2624 provided for the sale of 120,©DA Water Bonds of 1961 and provided for taxes to be levied for t1~~e repayment of principal and interest thereon, and WHEREAS, It appears desirable to cancel or reduce such ad valorem tax levy to be levied in 1970 to the extent that such reduetion.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, The ad valorem tax levy requirement includes a 5% exc~:ss provision. NOW, THEREFORE, BE IT RESOLVED by the city council of the C~.ty of Richfield, Minnesota, as follows: 1. That the transfer and appropriation of $7,600 from the Water Utility Fund to the Water Bonds of 1961 Fund is hereby authorized and directed. 2. That the amount to be levied in 1970 collectible in 1971 on Resolution No. 2624 in the amount of $8,000 is k~ereby cancelled. 3. That a copy of this resolution shall be sent to tl~e Hennepin County Auditor. Passed by the council of the City of Richfield this 9th day of Octgber, 1970, tat- ~-~c,~ tanley W. Olson Mayor Attests ~~ Thomas J. Nv1-` an, City Cleric