HomeMy WebLinkAbout15-196 2016 Final Budget and Property Tax Levy - Resolution 1(Revised per council)
4646 Dakota Street SE
Prior Lake, MN 55372
RESOLUTION 15-196
RESOLUTION ADOPTING 2016 CITY BUDGETS AND CERTIFYING
FINAL 2016 CITY OF PRIOR LAKE PROPERTY TAX LEVY
TO SCOTT COUNTY DEPARTMENT OF TAXATION
Motion By: Keeney Second By: Morton
WHEREAS, The Prior Lake City Council conducted a Truth In Taxation public budget meeting on
December 14, 2015 pursuant to State requirements; and continued their discussion
until the December 21, 2015 meeting
WHEREAS, The City Council hereby adopts the following 2016 budgets; and
General Fund $ 12,945,738
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 5,095,575
Sewer Fund 2,932,301
Water Quality Fund 963,553
Total $ 29,341,060
WHEREAS,
The property tax levy approved for payable year 2016 is as follows; and
General Purposes $ 7,172,792
Revolving Equipment Fund 325,000
Debt Service 3,425,569
Total $ 10,923,361
WHEREAS,
WHEREAS,
WHEREAS,
The property tax levy by tax base approved for payable year 2016 is as follows; and
Tax Capacity Based Levy $ 9,838,642
Market Value Based Referenda Levy 1,084,719
Total $ 10,923,361
The proposed City of Prior Lake property tax levy for the year payable 20 16 represents
a $684,275 or 6.58% increase in total tax levy (including the Economic Development
Authority levy); and
The City Council considered the 2016 General Fund, Debt Service Funds, Cable 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 and at their continuation meeting at 7:00
p.m. on December 21, 2015.
NOW THEREFORE, 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
2016:
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 21st DAY OF DECEMBER, 2015.
VOTE Hedberg Keeney McGuire Morton Thompson
Aye ☐ ☒ ☐ ☒ ☒
Nay ☒ ☐ ☒ ☐ ☐
Abstain ☐ ☐ ☐ ☐ ☐
Absent ☐ ☐ ☐ ☐ ☐
______________________________
Frank Boyles, City Manager
Purpose Amount Amount
* General City Purposes $ 7,172,792
* Revolving Equipment Fund 325,000
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 (Boudins 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 (150th/13) 95,147
** F316-Park Refunding Bonds ‘05 856,838
** F318-Fire Station #2 Referendum Bonds ‘06 227,881
Total Debt Service 3,425,569
Total $ 10,923,361