HomeMy WebLinkAbout11-147 2012 Budget and Tax Levy
4646 Dakota Street SE
Prior Lake, MN 55372
RESOLUTION 1 1 - 147
RESOLUTION ADOPTING 2012 PRIOR LAKE BUDGETS AND
CERTIFYING FINAL 201 2 CITY OF PRIOR LAKE PROPERTY TAX LEVY
TO SCOTT COUNTY DEPARTMENT OF TAXATION
Motion By: Hedberg Second By: Erickson
WHEREAS, The City Council of the City of Prior Lake conducted a Truth in Taxation public hearing on
December 5 , 201 1 pursuant to state requirements; and
WHEREAS, The City Council hereby adopts the following 201 2 budgets; and
General Fund $ 12, 729,968
Debt Service Funds 4, 55 8, 609
Revolving Equipment Fund 504 , 864
Economic Development Authority 137,923
Water Fund 3, 432 , 016
Sewer Fund 3 , 069 , 460
Water Quality Fund 703 , 582
Transit Fund 851 , 204
Total $25, 987 , 626
WHEREAS, The property tax levy by tax base approved for payable year 201 2 is as follows; and
Tax Capacity Based Levy $ 8 , 28 5 , 602
Market Value Based Referenda Levy 1,1 28 , 522
Total $ 9 , 41 4 ,124
WHEREAS, The property tax levy approved for payable year 201 2 is for the following purposes:
General Purposes $ 6, 29 8 , 514
Revolving Equipment Fund 2 8 0,000
Debt Service 2, 8 35 , 610
Total $ 9 , 41 4 ,124
WHEREAS, The City of Prior Lake’s General Fund operating budget tax levy is hereby equivalent to
$8, 06 1,784 ; and
WHEREAS, The Revolving Equipment Fund levy amount is $2 8 0,000; and
WHEREAS, The Special debt levies account for an additional tax levy of $1, 072 , 340 of which the Scott
County cooperative agreement appropriation of $ 148,340 for CSAH 82 is i ncluded.
N OW THEREFORE , BE IT HEREBY RESOLVE D BY THE CITY COUNCI L 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 201 2 :
Purpose Amount Amount
* General City Purposes $ 6, 29 8,514
* Revolving Equipment Fund 280,000
Debt Service:
* G.O. Improvement Bonds ‘05 (Fish Point) $ 0
* CSAH 82 Improvement Appropriation ‘06 148,340
* G.O. Street Reconstruction Bonds ‘07 162,000
* G.O. Improvement Bonds ‘08 (Brooksville Hills I) 91,000
* G.O. Improvement Bonds ’09 (Brooksville Hills II) 11 5 ,000
* G.O. Imp Refunding Bonds 2009B 118,000
* G.O. Improvement Bonds ’10 (CR12) 109,000
* G.O. Improvement Bonds ’11 (Boudins I & Arcadia ROW) 172,000
* G.O. Improvement Bonds ( ‘04) ’11 Refunding 15 7 ,000
* G.O. Building Bonds ‘05 (EDA) 634,748
** Park Refunding Bonds ‘05 727,244
** Fire Station #2 Referendum Bonds ‘06 216,280
** Fire Station #1 Refunding Bonds ‘08 184,998
Total Debt Service 2,835,610
Total $ 9, 41 4 ,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 AN D ADOPTED THIS 19 th DAY OF DECEMBER , 201 1 .
YES NO
Myser Myser X
Erickson X Erickson
Hedberg X Hedberg
Keeney Keeney X
Soukup X Soukup
______________________________
Frank Boyles, City Manager
2