1974-5258r268
RESOLUTION No, 5258
RESO"LUTTON AUTHORIZING TRANSFER FROM WATER UTILITY FUND T'0 WATER
BONDS OF 19b3 T''i7ND AN'D REDUCING CERTAIN AD VALOREM TAB LEV'TES
WHEREAS, Resolution Noa 3079 provided for the sale of $1,700,000 Water Bonds of
1963 and provided for taxes to be levied far the payment of principal
and interest thereon, and.
WHEREAS, Tt appears desirable to cancel or reduce such ad valorem tax levy to
be levied in 1974 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 provisiono
NOW, THEREFORE, BE TT RESOLVED by the city council of the City of Richfield,
Minnesota, as followso
1, That the transfer and appropriation of $133,855 from the Water
Utility Fund to the Water Bonds of 1953 Fund is hereby authorized
and direceedo
2, `Irhat the amount to be levied in 1974, collectible in 1975, on
Resolution Noo 3079, in the amount of $140,900, is hereby cancelledo
3o That a copy of this resolution sha11 be sent to the Hennepin County
Auditoro
Passed by the council of the City of Richfield this 8th day of October, 1974
/ J+
(f
~'`~ __ .r. ~~ ..
~`--` ~ ren L L~"aca ~ ~ ~ Mayor
ATTESTo
~ ~
~~ ~ ~
Thomas Jo Mor~,~i G~,ty C~ler`~
i
~ J~