1971-4659r-~ ~~
~_ ~;,
RESOLUTION No. 4659
RESOLUTION AUTHORTZING TRANSFER FROM IMPROVEMENT BONDS
OF 1949 TO IMPROVEMENT BONDS OF 1953, SERIES C, and RE-
DUCING CERTAIN AD VALOREM TAX LEVIES
WHEREAS, Resolution No. 236 provided for taxes to be levied for the repayment
of principal and interest on the Improvement Bonds of 1953, Series C,
and
WHEREAS, It appears desirable to cancel or reduce such ad valorem tax ,levy
to be levied in 1971 by xeason that such reduction is possible by
reason of transfers from the Improvement Bonds of 1949 Fund, and
WHEREAS, There is presently surplus funds available in the Improvement .Bonds
of 1949 Fund as all remaining principal and interest on such bonds
have been paid, and
WHEREAS, The ad valorem tax levy requirement includes a 5% excess provision..
NOW, THEREFORE, BE IT RESOLVED by the city council of the City of Richfield,.
Minnesota, as follows:
1. That the transfer and appropriation of $1,900 from the Improve-
ment Bonds of 1949 Fund is hereby authorized and directed.
2. That the amount to be levied in 1971, collectible in 1972 on
Resolution No. 236 in the amount of $2,000, 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 thisllth day of October, 1971.
Stanley W. Olson Mayor
Attest:
Thomas J. Mor City C1er1c