1973-5088rRESOh 1TTI0I~ Noe .50ffi~3
RES0hUTI0N AUTHOR.I~ING I`RANS1'ERS PROM IMPROVEM~]'T BONUS Of
1953 SERIES C, ANU WATER UTIhITY FUNDS TO IMl'ROVEMEN'`l'S BONUS
OF 190 FUZVD AND REDUCING CERTAIN AD ~AI;0REi~1 TAX LE~IIES
WHEREAS, Resolution No. 2862 provided for the sale of X6209000 Improvement Bonds
of 1960 and provided for taxes to be levied for the repayment of princ~.pal
a•nd interest thereon, and
WHEREAS, It appears desirable to cancel or reduce such a.d valorem tax levies to
be levied in 1973 to the extent that such reduction is possible by
reason of transfers from the Improvement Bonds of 1953, Series C Fund„
and the Water U'tili.ty Fund, and
WHEREAS, There is presently sufficient funds available in the Improvement Bonds
of 1953, Series C fund, to pay all the remaining principal and interest
on such bonds, and
WHEREAS, Such, transfer from the Improvement Bonds of 1953, Series C, Shall be
from surplus monies not needed for the payment of principal and interest
in that fund, and
WHEREAS, Such transfers shall be charged to the Water Utility fund, and
WHEREAS, `1"Fbe ad valorem tax levy requirement includes a 5% excess provision.
NOW, THEREFORE, BE IT RESOZ,VED by the city council of the City of Richfield, Minnesota
as followso
1. That the transfer and appropriation of $2,466 from the Improvement
Bonds of 1953, Series C fund, to the Improvement Bonds of 1950 Fund
is hereby authorized and directed.
2. That the traxisfer and appropriation of $x.46 from the Water Utility
fund to the I~iprovement Bonds of 1960 Fund is hereby authorized and
directed.
3. That the amount to be levied in 1973, collectible in 1974 on Resolu®
tion No. 2862, in the amount of $29750, is hereby cancelled.
4. 't'hat a copy of t`e~is resolution shall be sent to the Hennepin County
Auditor.
Passed 'by the council of the City of Richfield this 9th. clay of October, 1973.
ATTESTo
u: ~' ~/CG ~ i ` Vii. ~ _ _
':~hho~mas .T. M®ra.n ~r,~~~ Clerk
i
Z. haw
mayor