HomeMy WebLinkAbout19-106 2020 Budget Resolution - 2020 Preliminary Budget and Property Tax Levy
4646 Dakota Street SE
Prior Lake, MN 55372
RESOLUTION 19-106
A RESOLUTION ADOPTING 2020 CITY BUDGETS AND CERTIFYING
PRELIMINARY 2020 CITY OF PRIOR LAKE PROPERTY TAX LEVY
TO SCOTT COUNTY DEPARTMENT OF TAXATION
Motion By: Braid 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 2020 are
estimated as follows; and
General Fund $ 14,635,111
Debt Service Funds 5,432,317
Cable Fund 9,200
Capital Park Fund -
Revolving Equipment Fund 1,200,000
Revolving Park Equipment Fund 346,000
Permanent Improvement Revolving Fund 979,933
Facilities Management Fund 114,000
EDA 453,135
Water Fund 3,402,180
Sewer Fund 3,560,641
Water Quality Fund 819,861
Total $ 30,952,378
WHEREAS,
The proposed property tax levy for the City of Prior Lake for payable year 20 20 is as
follows; and
General Purposes $ 8,731,099
Revolving Equipment Fund 625,000
Revolving Park Equipment Fund 319,000
Permanent Improvement Revolving Fund 130,000
Facilities Management Fund 30,000
EDA 274,750
Debt Service 3,561,288
Total $ 13,671,137
WHEREAS,
The proposed property tax levy by tax base for the City of Prior Lake for payable year
2020 is as follows; and
Tax Capacity Based Levy $ 13,429,080
Market Value Based Referenda Levy 242,057
Total $ 13,671,137
WHEREAS,
The proposed City of Prior Lake property tax levy for the year payable 2020 represents
a $893,102 or 6.99% increase in total tax levy (including the Economic Development
Authority levy); and
The City Council will consider the 2020 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 2020 Property Tax Levy
during its regularly scheduled council meeting at 7:00 p.m. on Monday December 2,
2019 at 4646 Dakota Street SE, Prior Lake with a continuation (if necessary) at 7:00
p.m. on December 16, 2019.
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 2020:
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 8,731,099
* Revolving Equipment Fund 625,000
* Revolving Park Equipment Fund (Park Equipment & Trail Replacement) 319,000
* Permanent Improvement Revolving Fund (Street Overlay) 130,000
* Facilities Management Fund 30,000
* EDA 274,750
Debt Service:
* F557-G.O. Imp Bonds 2010 (CR12) 124,000
* F558-G.O. Imp Bonds 2011A (Boudin I/Arcadia ROW) 167,000
* F559-G.O. Imp Bonds 2011B (Boudins II/Arcadia) 181,000
* F317-G.O. CIP Refunding Bonds 2012A 663,158
* F560-G.O. Imp Bonds 2013A (Welcome, CR12, Sunset) 170,000
* F561-G.O. Imp Bonds 2014A (Maplewood, Crest, Carriage) 160,500
* F562-Guaranteed Energy Savings Program 300,614
* F564-G.O. Imp Bonds 2015B (150th/13) 124,382
* F565, 566, 567-G.O. Imp Bonds 2016A (Manitou) 76,904
* F566-G.O. Imp Bonds 2016A (150th/13) 42,000
* F567-G.O. Imp Bonds 2016A (Equipment) 68,040
* F568-G.O. Imp Bonds 2017A (Cates, Balsam, Franklin, Sycamore) 325,889
* F569-G.O. Imp Bonds 2017A (Mill and Overlay) 629
* F570-G.O. Imp Bonds 2018A (Equip, CIP, Imp, Street Recon) 684,623
* F571-G.O. Imp Bonds 2018A (Mill and Overlay) 6,190
* F572-G.O. Imp Bonds 2019A (Street and Capital Improvements) 224,302
** F318-Fire Station #2 Referendum Bonds ‘06 242,057
Total Debt Service 3,561,288
Total $ 13,671,137
VOTE Briggs Thompson Burkart Braid Erickson
Aye ☒ ☒ ☐ ☒ ☒
Nay ☐ ☐ ☒ ☐ ☐
Abstain ☐ ☐ ☐ ☐ ☐
Absent ☐ ☐ ☐ ☐ ☐
______________________________
Lori Olson, Interim City Manager