1976-5593r37
RLSOLtJTION N0, 5593
• RESOLt]TION RELAT7:NG TO TIV DTSCONTINIJA7'ION OF 7.'HP TMPROVIMI;NT
PONDS OF 1953, SERIES C, DEBT SERVICE FiJND AI;D TRe~NSFI~R OI~ SURPLUS
P
WIIIREAS, On I`TO~n~mber 1, 1953 the city issued Special Assessment Improvement
Bonds in the amount of $217,OOO,.and
CJID;REAS, F3_nal. payment for principal and ir_terest maturities was made on
Novem'~er 1, 1973, and
WHEREAS, A major portion of the delinquent. special assessments has been
collected, and
WHEREAS, It appears desirable to discontinue this fund.
NOW, THEREFORE, BL' IT RESOLVT'D by the city council of the City of Richfield,
Minnesota, that:
1. The approximate cash surplus of $I,162 i_n the Improvement
Bonds of 1953, Series C, be transferred to the General Fund,
2. The Improvement Bonds of 1953, Series C, Fund be discont?~nued
as of December 31, 1976.
Passed by ,the city council"of the City of Richfield this 8th day of October, 1976.
AT7.'I;S'J'
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`Thomas J.• Moran "City Cleric
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