1976-5594rRESOI~LrTION N0, 5594.
1ZESOI~UTTON AUTIIORT7TNG TP.ANSI~I-;R FROM WATER UTILITY FUND TO
~WA`l'T;1: BUNI)S OF 1961 FUND AND RIDUCINC~ CERTAIN AD VALUP.>slwl
' ~ TAX I,lsVIES
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WIiEl:EAS, Resolution No, 2624 provided for the sale of $120,000 t~ater Bonds of
1961 and provided for taxes to be levied for the repayulent of
prini:cipal and interest thereo~.Z, and '
WIIEREAS, It appears desirable to cancel or_ reduce such ad valorem tax levy
to be Levied in 1976 to the extent that such reduction is possible
by reason of transfer from-the tdater Utility Fund, and
C^1HEPd;AS, Such transfer shall be char8ed to the Water Utility Fund, and
Wli1;REAS, The ad valorem tax levy requirement includes a 5% excess provision.
NOt~T, T}IEREFOP~E, BE IT RESOLVED by the city council of the City of Richfield,
Minnesota, as follows:
1. That the transfer and appropriation of $7,600 from the
Water Utility Fund to the Water Bonds of 1961 Fund is
hereby authorized and directed, '
2. That the amount to be levied in 1976, collectible in 1977,
on P.esolution No, 2624, in the amount of $8,000 is hereby
cancelled. '
3. ~ That a copy of this resolution shall be sent to the Hennepin
County 'Auditor,
Passed by the city council of the City of Richfield this 8th day of October, 1976.
AT7.'EST: ,
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7.9~omas J. Moran City Glerk