HomeMy WebLinkAbout15-197 2016 Final Budget and Property Tax Levy - Resolution 2 (EDA2)
4646 Dakota Street SE
Prior Lake, MN 55372
RESOLUTION 15-197
A RESOLUTION ADOPTING THE 2016 ECONOMIC DEVELOPMENT AUTHORITY BUDGET
AND CERTIFYING THE 2016 ECONOMIC DEVELOPMENT AUTHORITY PROPERTY TAX
LEVY TO SCOTT COUNTY DEPARTMENT OF TAXATION
Motion By: Keeney Second By: McGuire
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, State Statute 469.107 subd. 1 provides that a city may, at the request of the Economic
Development Authority, levy a tax in any year for the benefit of the authority in an
amount not to exceed 0.01813 percent of taxable market value; and
WHEREAS, The maximum allowable EDA property tax levy for payable year 2016 has been
determined to be approximately $515,000; and
WHEREAS, The Prior Lake EDA, at its regularly scheduled meeting of August 17, 2015, authorized
a 2016 tax levy for economic development purposes in the amount of $155,000 and a
2016 budget of $181,425.
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. A final tax levy of $155,000 and budget of $181,425 are approved for payable year 2016.
3. That the Economic Development Authority tax levy be distributed upon the taxable property in said City
for the purposes of economic development in payable 201 6.
PASSED AND ADOPTED THIS 21st DAY OF DECEMBER, 2015.
VOTE Hedberg Keeney McGuire Morton Thompson
Aye ☒ ☒ ☒ ☐ ☐
Nay ☐ ☐ ☐ ☒ ☒
Abstain ☐ ☐ ☐ ☐ ☐
Absent ☐ ☐ ☐ ☐ ☐
______________________________
Frank Boyles, City Manager