HomeMy WebLinkAbout20-101CITY OF LAKEVILLE
RESOLUTION NO. 20-101
RESOLUTION APPROVING THE PRELIMINARY 2021 PROPERTY TAX LEVY
AND PRELIMINARY 2021 BUDGET
BE IT RESOLVED by the City Council of the City of Lakeville, Minnesota that the
Preliminary 2021 tax levy in the amount of $34,114,570 is hereby approved as shown on
Exhibits A and B attached hereto.
BE IT FURTHER RESOLVED by the City Council of the City of Lakeville, Minnesota
that the reductions in the original debt service levies are the result of excess funds in the
debt service account due to changes in funding sources such as interest on investments,
special assessments and contributions from Liquor Fund, ISD#194 and other entities.
BE IT FURTHER RESOLVED by the City Council of the City of Lakeville, Minnesota
that the Preliminary 2021 Budget is hereby approved and adopted as follows:
General Fund 1 $32,029,331
BE IT FURTHER RESOLVED by the City Council of the City of Lakeville, Minnesota
that the Public Budget Hearing will be held on Monday, December 7, 2020 at 6:30 pm in
the Council Chambers.
ADOPTED by the Lakeville City Council this 8th day of September 2020.
CITY OF LAKEVILLE
By:
Douglas P. Anderson, Mayor
ATT�zST:
Charlene Friedges, City Cle
EXHIBIT A
PRELIMINARY 2021 PROPERTY TAX LEVY
Non -Debt Service Funds
Debt Service:
HRA Lease Rev Ref Bonds 2016A
Capital Improvement Ice Arena Facility
Capital Improvement Ref Bonds 2014
G. O. Improvement Bonds 2012
G. O. Improvement Bonds 2013
G. O. Improvement Bonds 2014
G. O. Improvement Bonds 2015
G. O. Improvement Bonds 2016
G. O. Improvement Bonds 2017
G. O. Improvement Bonds 2018
G. O. Improvement Bonds 2019
G. O. Improvement Bonds 2020
G. O. Refunding Bonds 2012B
Street Reconstruction Bonds 2014B
Street Reconstruction Bonds 2017A
Street Reconstruction Bonds 2018B
Subtotal Debt
Total
$ 298,275
270,443
550,038
452,565
307,324
434,430
275,000
774,537
451,494
550,000
459,951
557,854
2,048,360
194,606
200,288
344,873
Total
$ 25,944,532
$ 8,170,038
$ 34,114,570
EXHIBIT B
PROPERTY TAX LEVY FOR DEBT
The following is a schedule of all debt which, at the time of issuance, included a certification
of future property tax levies. The 2021 Debt Levy column represents the levy in the original
bond documents. The 2021 Certified Debt Levy column represents the actual levy. The
reductions in the original debt service levies are the result of excess funds in the debt
service account due to changes in funding sources such as interest on investments, special
assessments and contributions from Liquor Fund, ISD#194 and other entities.
BOND DESCRIPTION
SERIES
2021
DEBT LEVY
2021
CERTIFIED
DEBT LEVY
STREET RECONSTRUCTION
2009A
$ 411,600
$ -
IMPROVEMENT
2012A
$ 484,814
$ 452,565
IMPROVEMENT
2012B
$ 2,129,715
$ 2,048,360
IMPROVEMENT
2013A
$ 323,324
$ 307,324
IMPROVEMENT
2014A
$ 956,261
$ 434,430
REFUNDING
2014B
$ 1,229,643
$ 744,644
IMPROVEMENT
2015A
$ 674,729
$ 275,000
GENERAL OBLIGATION
2016A
$ 298,275
$ 298,275
GENERAL OBLIGATION
2016B
$ 813,264
$ 774,537
GENERAL OBLIGATION
2017A
$ 674,356
$ 651,782
GENERAL OBLIGATION
2018A
$ 627,007
$ 550,000
GENERAL OBLIGATION
2018B
$ 344,873
$ 344,873
IMPROVEMENT
2019A
$ 459,951
$ 459,951
IMPROVEMENT
2020A
$ 557,854
$ 557,854
ABATEMENT
2020A
$ 33,475
$ -
GENERAL OBLIGATION
2021A
$ -
$ 270,443
$ 10,019,141
$ 8,170,038