1975-5428r464
- RESOLUTION N0. 5428
- RESOLUTION AUTHORIZING TR~INSFER 'FROM WATER UTILITY FUI3D TO WATER •
• BONDS OF 1963 FUND AND REDUCING CERTAIN AD VALOREM TAX LEVIES
:AREAS, Resolution No. 3079 provided for the sale of $1,700,000 Water Bonds of
1963 and provided for taxes to be levied-for the payment of principal
and interest thereon, and
,~IEREAS, It appears desirable to cancel or reduce such ad valorem tax levy to
be levied in 1975 to the~exteixt that such reduction is possible by
reason of transfer from the Water Utility Fund, and
~iEREAS, Such transfer shall be charged to-the Water Utility•Fund, and
~EREAS, The ad valorem tax levy requirement includes a 5% excess provision.
1~T, THEREFORE, BE IT RESOLVED by 'the city council. of the City of Richfield,
Minnesota., as follows:
1, That the transfer and appropriation of $130,625 from the Water
. Utility Fund to the Water Bonds of~1963 Fund is hereby authorized
and directed.
2. That the amount to be levied in 1975, collectible in 1976, on
Resolution No. 3079, in the amount of $137,500 is~hereby cancelled.
• 3. That a copy of this resolution shall be sent to the Hennepin County
Auditor.
messed by the council of the City•of Richfield this 6th day of October, 1975.
• Lo en L. Law Ma r
1~TEST:
~ ~'
Tomas J. M City Clerk