1971-4666r~~
RESOLUTION No. 4666
RESOLUTION AUTHORIZING TRANSFER FROM WATER UTILITY FUND TO
WATER BONDS OF 19 b3 FUND AND REDUGING CERTAIN AD VALOREM
TAX LEVIES
WHEREAS, Resolution No. 3079 provided for the sale of $1,700,000 Water Bonds
of 1963 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 $117,800 from the Water
Utility Fund to the Water Bonds of 1963 Fund is hereby authorized
and directed.
2. That the amount to be levied in 1971 collectible in 1972 on
Resolution No. 3079 in the amount of $124,000 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:
Thomas J. Mora City Clerk
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