HomeMy WebLinkAbout20-149CITY OF LAKEVILLE
RESOLUTION NO. 20-149
RESOLUTION ADOPTING THE 2021 PROPERTY TAX LEVY
BE IT RESOLVED by the City Council of the City of Lakeville as follows:
Section I. There is hereby levied upon all taxable property in the City of Lakeville a direct
ad valorem tax collectible in 2021 for the following purposes and in the following
amounts:
Purpose
TOTAL
Debt
Street improvements
$ 5,774,924
Tax abatement
270,443
Police Station
550,038
Central Maintenance Facility
1,073,358
Ice Arena
298,275
Total Debt Levy
7,967,038
General Fund
24,264,532
Pavement Management Fund
1,100,000
Equipment Fund
150,000
Park Improvement Fund
350,000
Trail Improvement Fund
80,000
Total tax levy
$ 33,911,570
Section II. It is hereby determined that the City is making an irrevocable appropriation
of funds, and sufficient monies are now on hand due to changes in funding sources such
as interest on investments, special assessments and contributions from Liquor Fund,
ISD#194 and other entities for the payment of principal and interest to come due during
the 2021/2022 year for certain bond issues of the City of Lakeville.
Section III. The Treasurer -Auditor of Dakota County is hereby authorized and directed,
pursuant to the provisions of Section 475.61, Minnesota Statutes Annotated, to cancel the
levies for said indebtedness heretofore made to be levied for collection in 2021 as shown
in Schedule A.
ADOPTED by the Lakeville City Council this 7th day of December 2020.
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Charlene Friedges, City' lerk
Douglas P. Anderson, Mayor
Schedule A - Debt Service
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
WATER UTILITY REVENUE
2016A
$
-
$
-
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
$
354,854
TAX ABATEMENT
2020A
$
33,475
$
-
TAX ABATEMENT
2021A
$
-
$
270,443
$
10,019,141
$
7,967,038