1971-4662r,~~~
RESOLUTION No. 4662
RESOLUTION AUTHORIZING TRANSFER FROM WATER UTILITY-.FUND TO WATER
BONDS OF 1961 FUND AND REDUCING CERTAIN AD VALOREM TAX LEVIES
W~REAS, Resolution No. 2624 provided for the sale of $120~D00 Wader Bonds of
1961 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 1971 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, 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 $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 3n 1971, collectible in 1972 on
Resolution No. 2624, in the amount of $8,000, 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 11th day of October, 1971.
Stanley W, Olson Mayor
Attest;
~ ~~ ~ G-~`~=~~L,
Thomas J. Mor City Clerk