HomeMy WebLinkAbout15-159 2016 Preliminary Budget and Property Tax Levy
4646 Dakota Street SE
Prior Lake, MN 55372
RESOLUTION 15-159
A RESOLUTION ADOPTING PROPOSED 2016 CITY BUDGETS AND CERTIFYING
PRELIMINARY 2016 CITY OF PRIOR LAKE PROPERTY TAX LEVY
TO SCOTT COUNTY DEPARTMENT OF TAXATION
Motion By: McGuire Second By: Kinney
WHEREAS, Truth in Taxation provisions as specified by state statute requires the Prior Lake City
Council to certify a proposed property tax levy to the Scott County Department of
Taxation; and
WHEREAS, Preliminary budget amounts for the City of Prior Lake for calendar year 2016 are
estimated as follows; and
General Fund $ 13,161,392
Debt Service Funds 5,110,172
Cable Fund 6,360
Capital Park Fund 340,000
Revolving Equipment Fund 1,200,955
Facilities Management Fund 746,406
Water Fund 5,100,668
Sewer Fund 2,948,777
Water Quality Fund 937,394
Total $ 29,552,124
WHEREAS, The proposed property tax levy for the City of Prior Lake for payable year 2016 is as
follows; and
General Purposes $ 7,609,706
Revolving Equipment Fund 400,000
Debt Service 3,425,569
Total $ 11,435,275
WHEREAS, The proposed property tax levy by tax base for the City of Prior Lake for payable year
2016 is as follows; and
Tax Capacity Based Levy $ 10,350,556
Market Value Based Referenda Levy 1,084,719
Total $ 11,435,275
The proposed City of Prior Lake property tax levy for the year payable 2016 represents
WHEREAS,
a $1,196,189 or 11.51% increase in total tax levy (including the Economic Development
Authority levy); and
The City Council will consider the 2016 General Fund, Debt Service Funds, Cable
WHEREAS,
Fund, Capital Park Fund, Revolving Equipment Fund, Facilities Management Fund,
EDA Special Revenue Fund and Enterprise Fund Budgets and the Final 2016 Property
Tax Levy during its regularly scheduled council meeting at 7:00 p.m. on Monday
December 14, 2015 at 4646 Dakota Street SE, Prior Lake with a continuation (if
necessary) at 7:00 p.m. on December 28, 2015.
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 proposed tax levy be distributed upon the taxable property in said City for the following purposes
in payable 2016:
Purpose Amount Amount
* General City Purposes $ 7,609,706
* Revolving Equipment Fund 400,000
Debt Service:
* F553-CSAH 82 Improvement Appropriation ‘06 $138,545
* F554-G.O. Street Reconstruction Bonds ‘07 169,000
* F555-G.O. Imp Bonds ‘08 (Brooksville Hills I) 85,000
* F556-G.O. Imp Bonds ’09 (Brooksville Hills II) 150,000
* F557-G.O. Imp Bonds 2010 (CR12) 109,000
* F558-G.O. Imp Bonds 2011A (Boudin I/Arcadia ROW) 142,000
* F559-G.O. Imp Bonds 2011B (Boudin II/Arcadia) 201,000
* F317-G.O. CIP Refunding Bonds 2012A 594,158
* F560-G.O. Imp Bonds 2013A (Welcome,CR12,Sunset) 160,000
* F561-G.O. Imp Bonds 2014A (Maplewood,Crest,Carriage) 242,000
* F562-Guaranteed Energy Savings Program 255,000
* F564- G.O. Imp Bonds 2015B (150/13) 95,147
th
** F316-Park Refunding Bonds ‘05 856,838
** F318-Fire Station #2 Referendum Bonds ‘06 227,881
Total Debt Service 3,425,569
Total $ 11,435,275
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 28th DAY OF SEPTEMBER, 2015.
VOTE Hedberg Keeney McGuire Morton Thompson
Aye
☒☒☒☒☐
Nay
☐☐☐☐☒
Abstain
☐☐☐☐☐
Absent
☐☐☐☐☐
______________________________
Frank Boyles, City Manager