HomeMy WebLinkAbout21-180CITY OF LAKEVILLE
RESOLUTION NO. 21-180
RESOLUTION ADOPTING THE 2022 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 2022 for the following purposes and in the
following amounts:
PURPOSE
TOTAL
Debt
Street Improvements
$ 5,837,214
Tax Abatement - Arena Improvements
157,500
Police Station
457,938
Central Maintenance Facility
980,173
Ice Arena
374,175
Total Debt Levy
7,807,000
General Fund
25,268,000
Pavement Management Fund
1,600,000
Equipment Fund
450,000
Park Improvement Fund
350,000
Trail Improvement Fund
115,000
Total tax levy
$ 35,590,000
Section H. 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 2022/2023 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 2022 as shown in Schedule A.
ADOPTED by the Lakeville City Council this 6th day of December 2021.
Douglas P. Anderson, Mayor
Charlene Friedges, City Cle 12
SCHEDULE A
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 2022 Debt Levy column represents the levy in
the original bond documents.
The 2022 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.
2022 NET
2022
ABATEMENT ABATEMENT
2022 CERTIFIED
BOND DESCRIPTION
SERIES
LEVY LEVY
DEBT LEVY DEBT LEVY
IMPROVEMENT
2012A
` , , . ",�<
$
482,259 230,171
IMPROVEMENT
20128'
,,,_ �;
$
2,152,185 1,959,720
IMPROVEMENT
2013A
, ' ;. „y ; ,'T":
$
321,995 159,209
IMPROVEMENT
2014A
= .` , ;" ," °'.,'
$
956,471 434,050
REFUNDING
20148
,,.
1,230,246 655,247
IMPROVEMENT
2015A
��.�,.�,xw d,,;�?�„�-
$
669,304 350,000
WATER UTILITY REVENUE
2016A
GENERAL OBLIGATION
2016A
�; �;' w= ;
$
299,700 299,700
GENERAL OBLIGATION
20168_
$
813,620 774,877
GENERAL OBLIGATION
2017A674,085
636,673
GENERAL OBLIGATION
2018A`
$
629,975 -
GENERAL OBLIGATION
20186
" ,!
$
348,128 328,128
IMPROVEMENT
2019A
` s,
$
454,843 454,843
+_ ,� ,.`�:`
GENERAL OBLIGATION
2020A
,.. m ,":'
$
926,869 536,751
ABATEMENT
2020A
$ 50,000 $
"
GENERAL OBLIGATION
2021A�.172,14874,475
ABATEMENT
2021A
$ 315,000 $ 157,5 00
,.N .",,
" „ . M7 -
GENERAL OBLIGATION
20218
N ; ;
$
165,125 -
ABATEMENT
2021B
$ 205,000
GENERAL OBLIGATION
2021C
=x" , :-. k' .'>"'
$
710,330 705,656
IMPROVEMENT
2022X
n„<,� x.� "k �°�':
$
- 50,000
$ 570,000 $ 157,500
$
11,007,281 $ 7,649,500
NET ABATEMENT LEVY $ 157,500
CERTIFIED DEBT LEVY $ 7,649,500
TOTAL LEVY $ 7,807,000