1976-5603r47
RESOLUTION N0. 5603
RESOLUTION RELATING TO THE DISCONTINUATION OF THE IMPROVEMENT
BONDS OF 1954, SERIES B, DEBT SERVICE FUND AND TRANSFER OF SURPLUS
1
WHEREAS, On August 1, 1954 the city issued Special Assessment Improvement
Bonds in the amount of $1,000,000, and
WHEREAS, Final payment for principal and interest maturities was made on
August 1, 1975, and
WHEREAS, A major portion of the delinquent special assessments has been
collected, and
WHEREAS, It appears desirable to discontinue this fund.
NOW, THEREFORE, BE IT RESOLVED by the city council of the City of Richfield,
Minnesota, that:
1. The approximate cash surplus of $2,000 in the Improvement
Bonds of 1954, Series B, be transferred to the General
Fund.
2. The Improvement Bonds of 1954, Series B Fund, be discontinued
as of December 31, 1976.
Passed by the city council of the City of Richfield this 8th day of October, 1976.
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en L. Law ayor
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ATTEST:
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Thomas J. Moran City Clerk