HomeMy WebLinkAbout17-153 2018 Preliminary Budget and Property Tax Levy
4646 Dakota Street SE
Prior Lake, MN 55372
RESOLUTION 17-153
A RESOLUTION ADOPTING PROPOSED 2018 CITY BUDGETS AND CERTIFYING
PRELIMINARY 2018 CITY OF PRIOR LAKE PROPERTY TAX LEVY
TO SCOTT COUNTY DEPARTMENT OF TAXATION
Motion By: McGuire Second By: Thompson
WHEREAS, State statute requires that the Prior Lake City Council 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 2018 are
estimated as follows; and
General Fund $ 12,799,804
Debt Service Funds 4,896,000
Cable Fund 80,000
Capital Park Fund 3,700
Revolving Equipment Fund 1,394,027
Revolving Park Equipment Fund 238,184
Permanent Improvement Revolving Fund 725,374
Facilities Management Fund 873,704
EDA 154,277
Water Fund 6,670,574
Sewer Fund 4,750,269
Water Quality Fund 999,621
Total $ 33,585,534
WHEREAS,
The proposed property tax levy for the City of Prior Lake for payable year 2018 is as
follows; and
General Purposes $ 7,863,218
Revolving Equipment Fund 500,000
Revolving Park Equipment Fund 238,184
EDA 140,000
Debt Service 3,370,172
Total $ 12,111,574
WHEREAS,
The proposed property tax levy by tax base for the City of Prior Lake for payable year
2018 is as follows; and
Tax Capacity Based Levy $ 11,884,022
Market Value Based Referenda Levy 227,552
Total $ 12,111,574
WHEREAS, The proposed City of Prior Lake property tax levy for the year payable 2018 represents
a $543,419 or 4.70% increase in total tax levy (including the Economic Development
Authority levy); and
The City Council will consider the 2018 General Fund, Debt Service Funds, Cable
Fund, Capital Park Fund, Revolving Equipment Fund, Revolving Park Equipment Fund,
Permanent Improvement Revolving Fund, Facilities Management Fund, EDA Special
Revenue Fund and Enterprise Fund Budgets and the Final 2018 Property Tax Levy
during its regularly scheduled council meeting at 7:00 p.m. on Monday December 4,
2017 at 4646 Dakota Street SE, Prior Lake with a continuation (if necessary) at 7:00
p.m. on December 18, 2017.
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 2018:
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.
Purpose Amount Amount
* General City Purposes $ 7,863,218
* Revolving Equipment Fund 500,000
* Revolving Park Equipment Fund 238,184
* EDA 140,000
Debt Service:
* F555-G.O. Imp Bonds ‘08 (Brooksville Hills I) $85,000
* F556-G.O. Imp Bonds ’09 (Brooksville Hills II) 159,000
* F557-G.O. Imp Bonds 2010 (CR12) 72,155
* F558-G.O. Imp Bonds 2011A (Boudin I/Arcadia ROW) 152,000
* F559-G.O. Imp Bonds 2011B (Boudins II/Arcadia) 201,000
* F317-G.O. CIP Refunding Bonds 2012A 637,258
* F560-G.O. Imp Bonds 2013A (Welcome, CR12, Sunset) 175,000
* F561-G.O. Imp Bonds 2014A (Maplewood, Crest, Carriage) 244,000
* F562-Guaranteed Energy Savings Program 300,614
* F564-G.O. Imp Bonds 2015B (150th/13) 587,823
* F565, 566, 567-G.O. Imp Bonds 2016A (Manitou) 78,305
* F566-G.O. Imp Bonds 2016A (150th/13) 43,470
* F567-G.O. Imp Bonds 2016A (Equipment) 65,205
* F568-G.O. Imp Bonds 2017A (Cates, Balsam, Franklin, Sycamore) 340,138
* F569-G.O. Imp Bonds 2017A (Mill and Overlay) 1,652
** F318-Fire Station #2 Referendum Bonds ‘06 227,552
Total Debt Service 3,370,172
Total $ 12,111,574
PASSED AND ADOPTED THIS 18th DAY OF SEPTEMBER, 2017.
VOTE Briggs McGuire Thompson Braid Burkart
Aye ☒ ☒ ☒ ☒ ☒
Nay ☐ ☐ ☐ ☐ ☐
Absent ☐ ☐ ☐ ☐ ☐
Abstain ☐ ☐ ☐ ☐ ☐
______________________________
Frank Boyles, City Manager