1973-5091rPaESO~UTION No. 5091
RESOZ,UTION AUTHORT2INC TRANSBERS BROWS IMPROVEMENT BONUS OE 1954
AN1~ WATER UTTI,ITY BUNS)S TO IMPROVEMENT BONS)S OB 1962 BUN'S) AND
RES9UCING CERTAIN AU VAIOR:~'i: TAB S,EVIES
WHEREAS, Resolution No. 2726 provided for the sale of X2,500,000 Improvement Bonds
of 1962 and provided for taxes to be levied for the repayment of principal
and interest thereon, and
WHEREAS, It appears desirable to cancel or reduce sash ad 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 1954 Fund and the Water Utility
Fund, and
WHEREAS, 'there is presently sufficient funds available in the Improvement Bonds
of 1954 fund to pay all remaining principal and interest on such bonds,
and
WHEREAS, Such transfer from the Improvement Bonds of 1954 Fund shall be surplus
monies not needed for the payment of principal and interest on such. bonds,
and
WHEREAS, Such transfers shall be charged to the Water Utility Bund, and
WHEREAS, The ad valorem tax levy requirement includes a 5°Ie excess provision.
NOW, THEREFORE, BE IT RFSOL~'ED by the city council of the City of Richfield, Minnesota,
as followso
1. That the transfer and appropriation of X27,149 from the Improvement
Bonds of 1954 Bund to the Improvement Bonds of 1962 Bund is hereby
authorized and directed.
2. That the transfer and appropriation of $14,770 from the Water Utility
Fund to the Improvement Bonds of 1962 Fund is hereby authorized and
directed.
3. That the amount to be levied in 1973, ce~llectible in 1974, on Resolu®
tion No. 2726, in the amount of ~4~4,125, is hereby cancelled.,
4. That a copy of this resolution shall be sent to the Hennepin Count~~~
Auditor,
Passed by the council of the City of Richfield this ~a da,~r ref October, 1973.
.. /~~
~` -~ ~ .. f
Koren ,.~ T,aw ~ Ma.yor
Attests
~.
~__-
~~ _ ~ ~ ~_ ~~ wit-.
Tho~ias J. Moraxi C~,ty CIerSC