1972-4853r' RESOLUTION No. 4853
RESOLUTION AUTHORIZING TRANSFER FROM WATER UTILITY FUND TO
WATER BONDS OF 1963 FUND AND REDUCING 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 payment of principal
and interest thereon, and
WHEREAS, It appears desirable to cancel or reduce such ad valorem tax levy to
be levied in 1972 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 $140,220 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 1972, collectible in 1973 on
Resolution No. 3079, in the amount of $147,600, 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 10th day of October, 1972.
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~~ L ren L. Law Mayor
Attest:
Thomas J. Morph City Clerk