HomeMy WebLinkAboutItem 09Date December 20, 2010
Proposed Action
Overview
Primary issues to Consider
Supporting Information
Budget document.
n s T e(Ier. Finance Director
Related Documents (CIP, ERR, etc.):
Notes:
Resolution Adopting the 2011 Tax Levy
Item No.
Staff recommends adoption of the following motion: Move to approve the Resolution Adopting
the 2011 Tax Levy
Approval of the Resolution wi11 result in adoption of the 2011 tax levy.
The City Council approved the preliminary 2011 tax levy on September 7. Property owners
received their Truth in Taxation notice based on the preliminary levy on or about the second
week of November. The proposed tax levy and budgets were presented and discussed at the
Truth in Taxation hearing on December 6. The attached Resolution is consistent with city
council discussion at the December 15 work session.
a Tax Levy and changes to tax levy. The 2011 tax levy is $5,000 less than the preliminary
2011 tax levy and the final 2010 tax levy.
I Financial Impact: $ budgeted: Yes Source: Various funds
RESOLUTION APPROVING THE 2011 TAX LEVY
BE IT RESOLVED by the City Council of the City of Lakeville, Minnesota that the
following 2011 tax levy is hereby approved and adopted.
BE IT FURTHER RESOLVED that the City Council of the City of Lakeville, does
hereby adopt Schedule A Debt Service Schedule attached hereto.
APPROVED AND ADOPTED this 20 day of December 2010 by the City Council o
the City of Lakeville, Minnesota.
ATTEST:
General Fund 16,975,571
Public Works Reserve - Pavement Mgmt. 1,546,958
Equipment Fund 554,377
Debt Service
Certificates of Indebtedness 325,863
Park Bonds 2003E 424,744
Capital Improvement Bonds 2004A 857,757
Ice Arena Lease Revenue Bonds 2006 275,070
Capital Improvement Bonds 2007D 908,488
Improvement Bonds 2009 377,376
Street Reconstruction Bonds 2003A 1,024,730
Street Reconstruction Bonds 2005A 181,428
Street Reconstruction Bonds 2007H 229,707
Street Reconstruction Bonds 2009A 354,583
Total 24,036,652
Charlene Friedges, City Clerk
CITY OF LAKEVILLE
RESOLUTION No.
Total
CITY OF t.AKEVILLE, MINNESOTA
By:
Holly Dahl, 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 levy. The following schedule - column B - provides a
list of debt listing actual tax levies for taxes payable 2011. The difference between
certification and actual is due to changes in funding sources such as interest on
investments, liquor fund contributions, special assessments, General Fund (operating
levies) and other contributing factors.
Bon
Debt Service Total **
d
Des
p1
0
Certificates of' Indebtedness 2007E
Park Bonds 2003B
Capital Improvement Bonds 2004A
Ice Arena Lease Revenue Bonds 2006
Capital Improvement Bonds 2007D
Improvement Bonds 2000 A
Improvement Bonds 200713
Improvement Bonds 2007F
Improvement B 2008A
Improvement Ret'unding Bonds 2009B
Street Reconstruction Bonds 2003A
Street Reconstruction Bonds 2005A
Street Reconstruction Bonds 200711
Street Reconstruction Bonds 2009A
Public Safety Revenue Bonds 2007
D
Schedu
(A)
le
492,581
444,340
215,000
1,153, 806
367.358
397.714
1.352
612.353
888,471
1,119,491
240.416
228,396
435,262
149,310
f
4
I3)
vy
325,863
424,744
857,757
275,070
908,488
377,376
1,024, 730
181.428
2 _29.707
354,583
6.745.850 S 4.959.746