1976-5600r44
RESOLUTION N0. 5600
RESOLUTION AUTHORIZING TRANSFER FROM IMPROVEMENT BONDS OF 1955
' FUND TO IMPROVEMENT BONDS OF 1967 FUND AND REDUCING
CERTAIN AD VALOREM TAX LEVIES
WHEREAS, Resolution No. 3901 provided for the sale of $275,000 Improvement Bonds
of 1967 and provided for taxes to be levied for the payment of princi-
pal and interest thereon, and
WHEREAS, Final payment for principal and interest maturities on Improvement
Bonds of 1955 was made on June 1, 1976, and
WHEREAS, Such transfer from the Improvement Bonds of 1955 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% excess provision.
NOW, THEREFORE, 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 1955 Fund, to the Improvement Bonds
of 1967 Fund is hereby authorized and directed,
2. That the amount levied in 1976, collectible in 1977 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 city council of the City of Richfield this 8th day of October, 1976.
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L ren L. Law' ~~ ayor
ATTEST:
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Thomas J. Moran City Clerk
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