#235 10-04-66 Authorize Cancellation Levy and Improvement Bonds:3 61
Resolution No. 235
/ October 4, 1966
Member Garis introduced the following resolution and MOVED its adoption:
RESOLUTION AUTHORIZING AND
DIRECTING CANCELLATION OF 1961 LEVY FOR
$825,000 IMPROVEMENT BONDS OF 1959
BE IT RESOLVED by the Village Council of the Village of Golden Valley,
Minnesota as follows:
1. In an by the resolution of this Council adopted on October 6, 1959,
authorizing and providing for the issuance of $825,000 Improvement Bonds of
1959, this Council levied an ad valorem tax in the amount of :1,200 for each
of the years 1960 through 1979 for the support of the improvement Bond Redemption
Fund, from which said bonds were made payable but in and by the same resolution
this Council also reserved the right and power to reduce said levies in
accordance with the provisions of Minnesota Statutes, Section 475.61. It is
hereby found and determined that there is on hand an excess amount in the
said funds over and above the amount therein which is sufficient for the payment
of all principal of and interest on the bonds payable from said fund becoming
due and payable prior to the time when the proceeds of a tax levied by the
Village in 1967 would be received, and that no payment of principal or interest
on any of the bonds payable from said fund is past due or delinquent, and that
the Village is therefore entitled to cancel the 1966 levy for said fund.
2. The Village Clerk is hereby authorized and directed to certify to the
County Auditor of Hennepin County, the fact of such excess in said fund, together
with a certified copy of this resolution, and shall request that said County
Auditor cancel said 1966 levy in accordance with Minnesota Statutes, Section
175.61, Subdivision 3.
Tlayor
Attest:
Village Clerk
The motion for the adoption of the foregoing resolution was duly seconded
by Member Flannagan and, upon vote being taken thereon, the following voted
in favor thereof: Flannagan, Garis, Nadasdy, Stockman, and Teresi; and the
following voted against the same: None, whereupon said resolution was declared
duly passed and adopted, signed by the Mayor, and his signature attested by
the Clerk.
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