HomeMy WebLinkAbout10-122 2011 Budget Tax Levy
4646 Dakota Street SE
Prior Lake, MN 55372
RESOLUTION 10-122
RESOLUTION ADOPTING 2011 PRIOR LAKE BUDGETS AND
CERTIFYING FINAL 2011 CITY OF PRIOR LAKE PROPERTY TAX LEVY
TO SCOTT COUNTY DEPARTMENT OF TAXATION
Motion By: Hedberg Second By: Millar
WHEREAS, The City Council of the City of Prior Lake conducted a Truth in Taxation public hearing on
December 6, 2010 pursuant to state requirements; and
WHEREAS, The City Council hereby adopts the following 2011 budgets; and
General Fund $ 12,188,313
Debt Service Funds 4,278,001
Revolving Equipment Fund 693,756
Water Fund 3,570,445
Sewer Fund 2,837,596
Water Quality Fund 908,404
Transit Fund 776,458
Total $25,252,973
WHEREAS, The property tax levy by tax base approved for payable year 2011 is as follows; and
Tax Capacity Based Levy $ 9,008,762
Market Value Based Referenda Levy 1,105,362
Total $10,114,124
WHEREAS, The property tax levy approved for payable year 2011 is for the following purposes:
General Purposes $ 6,961,567
Revolving Equipment Fund 270,000
Debt Service 2,882,557
Total $10,114,124
WHEREAS, The City of Prior Lake’s General Fund operating budget tax levy is hereby equivalent to
$8,686,929; and
WHEREAS, The Revolving Equipment Fund levy amount is $270,000; and
WHEREAS, The Special debt levies account for an additional tax levy of $1,157,195 of which the Scott
County cooperative agreement appropriation of $155,195 for CSAH 82 is included.
NOWTHEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF PRIOR LAKE,
MINNESOTA as follows:
1.The recitals set forth above are incorporated herein.
2.That the tax levy be distributed upon the taxable property in said City for the following purposes in
payable 2011:
Purpose Amount
* For General City Purposes $ 6,961,567
* Revolving Equipment Fund 270,000
* G.O. Improvement Bonds ‘01 (Frog Town) 55,000
* G.O. Improvement Bonds ‘04 (Breezy Point) 158,000
* G.O. Improvement Bonds ‘05 (Fish Point) 100,000
* CSAH 82 Improvement Appropriation ‘06 155,195
* G.O. Street Reconstruction Bonds ‘07 182,000
* G.O. Improvement Bonds ‘08 (Brooksville Hills I) 91,000
* G.O. Improvement Bonds ’09 (Brooksville Hills II) 139,000
* G.O. Imp Refunding Bonds 2009B 168,000
* G.O. Improvement Bonds ’10 (CR12) 109,000
* G.O. Building Bonds ‘05 (EDA) 620,000
** Park Refunding Bonds ‘05 703,682
** Fire Station #2 Referendum Bonds ‘06 213,680
** Fire Station #1 Refunding Bonds ‘08 188,000
Total $ 10,114,124
Note: Single starred funds shall be spread over the entire consolidated City of Prior Lake.
Note: Double starred funds represent market value based referendum taxes and shall be spread over the
entire consolidated City of Prior Lake.
Note: All other bond issues have sufficient fund balances to cover debt requirements.
PASSED AND ADOPTED THIS 20th DAY OF DECEMBER, 2010.
YES NO
Myser Myser X
Erickson X Erickson
Hedberg X Hedberg
Keeney Keeney X
Millar X Millar
______________________________
Frank Boyles, City Manager