1976-5595r12LSOLt1'1:CON N0. 559 5
P.ESOLUTT.ON At1'i?IIORI'L1:NG `4'1t~1rdSFF.RS l~'i:01.1 II~i)'RO~~ETIEN7' 130}v DS
OE 3.956 AI~D.tdA'.Cr'R U7.'IL'C!'1' 1'tINDS TO Ii~~tPi;OVl:i~lliv'1' BONDS
OF 1961 I?t7ND ANll ItEDUCI;tG CER1'AI:N AD VALOI:EI~I TAX LEVIES
WHEREAS, Re solut:i.on No. ?624 provided for the sale of $1,155,000 Improvement- Bozzcls
of 1967. and provided for taxes to be levied for the z-epayulent of principal
and interest thereon, and
0
WIIEPu:AS, It appears desirable to cancel or reduce such 'ad valarem tax lev9.es to
be levied in 1976 to the extent that such reduction 3.s possible by
reason of transfers from the Improvement.-Bonds of 1956I"und, and the
Water Utility Funcl, and
WI~REAS, Such transfer from-the Improvement Bonds of 1956 shall be from surplus
monies not needed for the payment of principal and interest in that fund,
and
WlIEIZEAS, Such transfers shall be charged to the 1~7ater Utility Fund, and
WHEREAS, The ad valorem tax leery requirements includes a 5°I° excess provision.
NOW, THEREFORE, BE IT RESOLVED by the city council of the Cit-y of Richfield,
Minnesota, as follows:
1. ',That the transfer. and appropriation of $15,237 from the Improvement
Bonds of 1956 Fund, to t-he Improvement Bonds of 1961 I't~.nd is
hereby authorized and directed. '
2. That the transfer and appropriation of $14,213 from the l~Tater
Utility Fund to the Improvement Bonds of 19 b1 Fund is hereby
authorized and directed.
3. That the amount to be Levied in 1976, collectible in 1977, on
Resolution No. 2624 in the amount of $31,000, is hereby cancelled.,
4. That a copy of this resolution sha7.1 be sent to the Iiennepin
County Auditor,
Passed by the city cozznc~_1 of the City of Pa.chfield this $th day of October, 1976.
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