1976-5604r48
RESOLUTION N0. 5604
RESOLUTION RELATING TO THE DISCONTINUATION OF THE IMPROVEMENT
BONDS OF 1955 DEBT SERVICE FUND AND TRANSFER OF SURPLUS
WHEREAS, On June 1, 1955, the city issued Special Assessment Improvement
Bonds in the amount of $1,410,000, and
WHEREAS, Final payment for principal and interest maturities was made on
June 1, 1976, 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 $2,392 in the Improvement
Bonds of 1955 be transferred to the General Fund.
2, The Improvement Bonds of 1951 Fund be discontinued as of
December 31, 1977.
Passed by the city council of the City of Richfield this 8th day of October, 1976.
ATTEST:
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Thomas J. Moran City Clerk
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