1974-5255r265
RESOL'UTT'.O:N' Noo 5255
RESOT:U`:CION A'UTHORZZT:NC TRANSFER FROM WATER UTILITY' FUND TO
Tn~ATER BONDS OI' 196:1. B'UND AND RE9UCI:NG CERTAIN AD VAT,OREM
TAB T:EVTES
WHEREAS9 Resolution N'oo 262/x• prov3.ded for the sale of $1209000 Water Bonds of
1961 and provided for taxes to be levied for the repayment of principal
and interest thereon, and
WHEREAS Tt appears desirable to cancel or reduce such ad valorem tax levy to
be levied in 1.974 to the extent that such reduction is possible by
reason of transfer from the Water Utility Fund9 and
WHEREAS, Such transfer shall. be charged to the Water Utility Fund9 and
WHEREAS, The ad valorem tax 1..evy requirement includes a 5% excess provisiono
NOW9 THEREFORE9 BE I`.l' RESOLVED by the city council of the City of Richfield9
Minnesota9 as followsa
1e That the transfer and appropriation of $7,600 from the Water Utility
Fund to the Water Bonds of 1961. Fund is hereby authorized and directed,
20 That the amount to be Ievied i.n 19749 collectible in 19759 on Resolution
Noe 26249 in the amount of X890009 is hereby cancelled,
3o That; a copy of this resola~tion shall be sent to the Hennepin County
Auditors
Passed by the council of the City of Richfield this 8th day of October9 19740
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f ~'l
L`'oren` L L;aw~-, C ~ Mayor
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ATTESTe
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Thdmas Jo Moen City C1erR
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