1973-5092rRESOZU`I'ION No® 5092
R~SOL•UTION AUTHORT~ING TRANSFER E'BO'NY WA.`'ER UTIZI`1'~ FUND TO WA`1'ER
BONDS OF 1962 Ft1ND AND REDUC7.NC CERTAIN AD VAZOR~M 'TAX LEVTES
WHEREAS, Resolution No. 2877 provided for the sale of X195009000 Water Bonds of
1962 and. provided for taxes to be levied for the repayment of principal
and. interest thereof, and
WHEREAS, It appears desirable to cancel or reduce such ad valorem ta.x levy to
be levied in 1973 to the extent that such reduction is possible by
reason of transfer from the Water Utility Fund, a.nd
WHEREAS, Such transfer sha11 be cha.r~ed to the Water Utility Fund, and
WHEREAS, The ad valorem. tax levy requirement includes a 5% excess provision,
NOW, THEREFORE, BE IT RESOLVU~D by the City Council of the City of. Richfield,
Minnesota, as follows:
1. That the transfer and appropriation of $109,820 from the Water
Utility Fund to the Water Bonds of 1962 Fund is hereby authorized
and directed,
2. That the amount to be levied in 1973, collectible in 19749 on Resolur
Lion No. 2877, in the amount of $115,600, is hereby cancelled.
3. That a copy of this resolution shall be sent to the Hennepin County
Auditoro
Passed by the council, of the City of Richfieltd this 9th~~day of October, 1973.
~~ T,~®ren I,. Law _ ~ r2ay®r
Attest:
~~. ;c~,.; ,% ~ i~ ~~t
Thomas J. M®r~,n Gity Clem
I
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