1975-5430r466
RESOLUTION N0. 5430
RE50LUTIOIV AUTHORIZING TRANSFER FROM IMPROVEMENT BONDS OF-1953,
SERIES C FUND TO IMPROVEMENT BONDS OF 1967 FUND AND REDUCING
CERTAIN AD VALOREM TAX LEVIES
WHEREAS, Resolution 3901 provided for the sale of $275,000 Improvement Bonds o.f
1967 and provided for taxes to be levied for the payment of.principal
and interest thereon, and
WHEREAS,. Final payment for principal and interest maturities was made on November
1, 1973, and
WHEREAS, There is presently sufficient funds available in the Improvement Bonds
of 1953, Series°C Fund to-pay all remaining principal and interest on
such bonds, and
WHEREAS, Such transfer from the Tmprovement Bonds of 1953, Series C Fund shall
be surplus monies not needed for the payment of principal and interest
on such bonds, and .
WHEREAS, The ad valorem tax Levy requirement includes a 5°!Q excess provision.
NOW, TftEREFORE, BE IT RESOLVED by the city council of the City of Richfield, Minnesota,
as follows:
1. That the transfer and appropriation of $3,325 from the Improvement
Bonds of 1953, Series C.Fund, to the Improvement Bonds of 1967
Fund is hereby authorized and directed. -
- f ° -2. That the amount levied. in 1975, collectible ,in 1976, on Resolution
- No. 3901, in the amount of $3,500, is hereby cancelled.
3. That a copy of this resolution shall be sent to the Hennepin County
Auditor.
Passed by the council of the City of Richfield this 6th
Lo
ATTEST:
Thomas J. Mor City Clerk
f October, 1975.