HomeMy WebLinkAboutItem 07.aOverview
Supporting Information
Dennis Feller, Finance Di'ector
Notes:
September 6, 2011 Item No.
Resolution Adopting the 2012 Preliminary Tax Levy
Proposed Action
Staff recommends adoption of the following motion:
2012 Preliminary Tax Levy.
Approval of the motion will establish the 2012 Preliminary Tax Levy.
ove to approve a resolution adopting the
Minnesota Statutes require cities to certify the proposed property tax levy to the County
Treasurer /Auditor and adopt a proposed budget on or before September 15`
Passage of this motion will result in the adoption of the 2012 preliminary tax levy of $23,376,570 as
discussed at the August Council work session. A discussion of the proposed 2012 tax levy is
provided in the Proposed 2012 Budget and the Estimated 2013 Budget document.
Primary Issues to Consider
• The City Council has the ability to adopt a final tax levy in December that is equal to or
less than the preliminary tax levy approved on September 6, 2011. The City Council
may not, however, adopt a final tax levy that is greater than the preliminary tax levy.
• Proposed 2012 and Estimated 2013 Budget document.
• 2012 preliminary tax levy resolution is attached.
Financial impact: 523,376,570 Budgeted: Yes Source: Various
Related Documents: Proposed 2012 and Estimated 2013 Budget document.
ATTEST:
Charlene Friedges, City Clerk
CITY OF LAKEVILLE
RESOLUTION No.
RESOLUTION APPROVING THE PRELIMINARY 2012 TAX LEVY
BE IT RESOLVED by the City Council of the City of Lakeville, Minnesota that the
following preliminary 2012 tax levy is hereby approved and adopted.
Total
General Fund 16,406,200
Public Works Reserve - Pavement Mgnt. 1,248,588
Equipment Fund 692,382
Debt Service
Park Bonds 2003B 416,531
Capital Improvement Bonds 2004A 883,000
Ice Arena Lease Revenue Bonds 2006 281,033
Capital Improvement Bonds 2007D 961,196
G. O. Improvement Bonds 2009 367,982
G 0 Improvement Bonds 2011 321,014
Street Reconstruction Bonds 2003A 1,027,791
Street Reconstruction Bonds 2005A 182,039
Street Reconstruction Bonds 2007H 231,044
Street Reconstruction Bonds 2009A 357,770
Total 23,376,570
APPROVED AND ADOPTED this 6 111 day of September 2011 by the City Council of
the City of Lakeville, Minnesota.
CITY OF LAKEVILLE, MINNESOTA
By:
Mark Bellows, Mayor