#238 10-04-66 Authorize Levy Fire Station Bonds364
Resolution No. 238
October 4, 1966
Member Garis introduced the following resolution and MOVED its adoption:
RESOLUTION AUTHORIZING AND DIRECTING
CANCELLATION OF 1966 LEVY FOR $21,000
FIRE STATION BONDS OF 1948
BE IT RESOLVED, by the Village Council of the Village of Golden Valley,
Minnesota, as follows:
1. In and by the resolution of this Council adopted on March 16, 1948,
providing for the issuance of 421,000 Fire Station Bonds of 1918, this
Council levied an ad valorem tax for the year 1966 collectible in 1967
in the amount of $2,165.00 for the support of the 1918 Fire Station Bond
Sinking Fund from which said bonds were made payable but in the same
resolution the Council reserved the right to cancel said levy to the extent
permitted by Minnesota Statutes 1945, Section 475.26. It is hereby
determined that an excess of funds were available in said Sinking Fund to
call the outstanding bonds of this issue during the current year and that
no future payments of principal or interest will be payable from said fund
and that the Village is therefore entitled to cancel the 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 475•
11ayo-r
Attest:
Village Clerk
The motion for the adoption of the foregoing resolution was duly seconded
by Member Flannagan and, upon vote beim taken thereon, the following members
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 14,ayor, and his signature attested
by the Village Clerk.