1975-5469r506
- RESOLUTION N0. 5469
• RESOLUTION RELATING .TO THE DISCONTINUATION
_ OF THE IlKPROVEMENT BONDS OF 1954 DEBT SERVICE. FUND
AND TRANSFER OF SURPLUS
__~ WHEREAS, on March $, 1954, Resolution No. 301, the City issued special-
-- ~ assessment improvement bonds in the amount of $1,000,000,000, and -
• WHEREAS, final payment for principal and interest maturities. was made ~~
on February 1, 1975, and
- WHEREAS, a major portion of-the delinquent special assessments have. -
been collected, and -
WHEREAS, it appears desirable to discontinue.-this fund.
NOW, THEREFORE, BE IT RESOLVED bq the City Council of the City of Richfield, -
Minnesota, that;
1. The approximate cash surplus of $7,150 in the improvements bonds of
~A 1954 debt service fund be transferred to the general fund.-
. ~ _- -
- _-
2. The improvement bonds of-1954 fund be discontinued as of December 3l, ~~•
1975. •
Passed by the City Council of the City of Richfield this 22nd day of
- December,-1975.
ATTEST:
~'' ~~~~~
Thomas J.: ran City Clerk