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HomeMy WebLinkAbout16-177 2017 Final Budget and Property Tax Levy 4646 Dakota Street SE Prior Lake, MN 55372 RESOLUTION 16-177 A RESOLUTION ADOPTING 2017 CITY BUDGETS AND CERTIFYING FINAL 2017 CITY OF PRIOR LAKE PROPERTY TAX LEVY TO SCOTT COUNTY DEPARTMENT OF TAXATION Motion By: McGuire Second By: Keeney WHEREAS, The Prior Lake City Council conducted a public budget meeting on November 28, 2016 pursuant to State requirements; and continued their discussion until the December 12, 2016 meeting; and WHEREAS, The City Council hereby adopts the following budgets for the City of Prior Lake for calendar year 2017; and General Fund $ 13,070,878 Debt Service Funds 5,019,318 Cable Fund 11,250 Capital Park Fund 0 Revolving Equipment Fund 872,704 Revolving Park Equipment Fund 223,406 Facilities Management Fund 232,140 EDA 160,825 Water Fund 6,025,897 Sewer Fund 4,461,398 Storm Water Utility Fund 1,388,206 Total $ 31,466,022 WHEREAS, The proposed property tax levy for the City of Prior Lake for payable year 2017 is as follows; and General Purposes $ 7,192,793 Revolving Equipment Fund 375,000 Revolving Park Equipment Fund 213,406 EDA 140,000 Debt Service 3,646,956 Total $ 11,568,155 WHEREAS, The proposed property tax levy by tax base for the City of Prior Lake for payable year 2017 is as follows; and Tax Capacity Based Levy $ 10,550,136 Market Value Based Referenda Levy 1,018,019 Total $ 11,568,155 WHEREAS, The proposed City of Prior Lake property tax levy for the year payable 2017 represents a $489,794 or 4.42% increase in total tax levy (including the Economic Development Authority levy); and WHEREAS, The City Council considered the 2017 General Fund, Debt Service Funds, Cable Fund, Capital Park Fund, Revolving Equipment Fund, Revolving Park Equipment Fund, Facilities Management Fund, Economic Development Authority Special Revenue Fund and Enterprise Fund Budgets and the Final 2017 Property Tax Levy during its regularly scheduled council meeting at 7:00 p.m. on Monday December 12, 2016 at 4646 Dakota Street SE, Prior Lake. 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 proposed tax levy be distributed upon the taxable property in said City for the following purposes in payable 2017: Note: Single starred funds represent tax capacity based property tax levies. Note: Double starred funds represent market value based referendum taxes. Note: All other bond issues have sufficient fund balances to cover debt requirements. Purpose Amount Amount * General City Purposes $ 7,192,793 * Revolving Equipment Fund 375,000 * Revolving Park Equipment Fund 213,406 * EDA 140,000 Debt Service: * F553-CSAH 82 Improvement Appropriation ‘06 $147,925 * 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) 140,000 * 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 610,958 * F560-G.O. Imp Bonds 2013A (Welcome, CR12, Sunset) 165,000 * F561-G.O. Imp Bonds 2014A (Maplewood, Crest, Carriage) 243,000 * F562-Guaranteed Energy Savings Program 285,000 * F564-G.O. Imp Bonds 2015B (150th/13) 142,199 * F565, 566, 567-G.O. Imp Bonds 2016A (Manitou) 83,645 * F566-G.O. Imp Bonds 2016A (150th/13) 38,850 * F567-G.O. Imp Bonds 2016A (Equipment) 66,360 ** F316-Park Refunding Bonds ‘05 792,838 ** F318-Fire Station #2 Referendum Bonds ‘06 225,181 Total Debt Service 3,646,956 Total $ 11,568,155 PASSED AND ADOPTED THIS 12th DAY OF DECEMBER, 2016. ______________________________ Frank Boyles, City Manager VOTE Hedberg Keeney McGuire Morton Thompson Aye ☒ ☒ ☒ ☒ ☒ Nay ☐ ☐ ☐ ☐ ☐ Abstain ☐ ☐ ☐ ☐ ☐ Absent ☐ ☐ ☐ ☐ ☐