HomeMy WebLinkAbout17-203 2018 Final Budget and Property Tax Levy
4646 Dakota Street SE
Prior Lake, MN 55372
RESOLUTION 17-203
A RESOLUTION ADOPTING 2018 CITY BUDGETS AND CERTIFYING
FINAL 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, The City Council hereby adopts the following budgets for the City of Prior Lake for
calendar year 2018; and
General Fund $ 12,767,768
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 153,597
Water Fund 6,659,524
Sewer Fund 4,742,967
Water Quality Fund 998,669
Total $ 33,533,514
WHEREAS,
The property tax levy for the City of Prior Lake for payable year 2018 is as follows; and
General Purposes $ 7,779,182
Revolving Equipment Fund 550,000
Revolving Park Equipment Fund 238,184
EDA 140,000
Debt Service 3,370,172
Total $ 12,077,538
WHEREAS,
WHEREAS,
The property tax levy by tax base for the City of Prior Lake for payable year 2018 is as
follows; and
Tax Capacity Based Levy $ 11,849,986
Market Value Based Referenda Levy 227,552
Total $ 12,077,538
The proposed City of Prior Lake property tax levy for the year payable 2018 represents
a $509,383 or 4.40% increase in total tax levy (including the Economic Development
Authority levy); and
WHEREAS,
The City Council considered 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 at a
previously announced public hearing during which time the public was afforded the
opportunity to speak during its regularly scheduled council meeting at 7:00 p.m. on
Monday December 4, 2017 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. The budgets and tax levy set forth in the recitals are hereby adopted.
3. 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.
PASSED AND ADOPTED THIS 4th DAY OF DECEMBER 2017
VOTE Briggs McGuire Thompson Braid Burkart
Aye ☒ ☒ ☒ ☐ ☒
Nay ☐ ☐ ☐ ☒ ☐
Absent ☐ ☐ ☐ ☐ ☐
Abstain ☐ ☐ ☐ ☐ ☐
______________________________
Frank Boyles, City Manager
Purpose Amount Amount
* General City Purposes $ 7,779,182
* Revolving Equipment Fund 550,000
* 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 $ 12,077,538