#365 10-17-67 Cancel Levy Improvement BondsResolution No. 365 October 17, 1967
Member Stockman introduced the following resolution and MOVED its
adoption:
RESOLUTION AUTHORIZING AND DIRECTING
CANCELLATION OF 1967 LEVY FOR IMPROVE
PENT BONDS OF 1966 _
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
December 7, 1966, Resolution 256 authorizing and providing for the
issuance of $1321000 improvement bonds of 1966, this Council levied
an ad valorem Tax in the amount of $3,000 for the year 1967, collectible
in 1968 for the support of the Improvement Bond Rede#tion Fund, from
which said bonds were made payable and,
2. In and by the same resolution this Council also reserved
the right and power to reduce said levy in accordance with the provisions
of Minnesota Statutes, Sectign 475.61. It is hereby found and
determined that there is on hand an excess amount in said fund 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 1968 would be received, and that no payments of
principal or interest on any of the bonds payable from said fund are
past due or delinquent, and that the Village is therefore entitled
to cancel the levy for said Fund.
3. :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 1967 levy in
accordance with Minnesota Statutes, Section 475.61, Subdivision 3.
Mayor
Attest: _
Village Clerk
The mgtion for the adoption of the foregoing resolution was duly
seconded by Member Bies and, upon vote being taken thereon, the following
voted in favor thereof: Bies, 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 Village Clerk.