HomeMy WebLinkAbout05(J) - Approve Ballot Language for the Property Tax Referendum for Park Improvements Report
ITEM: 5J
CITY COUNCIL AGENDA REPORT
MEETING DATE: July 22, 2025
PREPARED BY: Jason Wedel, City Manager
PRESENTED BY: Jason Wedel
AGENDA ITEM: Approve Ballot Language for the Property Tax Referendum for
Park Improvements
STRATEGIC HIGH QUALITY PARKS & TRAILS
PRIORITY: 3. Identify funding scenarios for parks and trails by 2024.
RECOMMENDED ACTION:
Approve the language that will be on the ballot this year for the property tax referendum for park
improvements.
BACKGROUND:
On June 24, 2025, the City Council adopted a resolution authorizing city staff to take the
necessary steps to facilitate a property tax referendum for park improvements. As part of that
process it is necessary for the City Council to formally approve the specific language that will be
included on the ballot.
City staff worked with our financial consultant and our bond counsel to determine the appropriate
language for the ballot. The proposed language is as follows:
"Shall the City of Prior Lake be authorized to issue its general obligation bonds in an amount not
to exceed $60,000,000 to provide funds for the acquisition and betterment of city parks, trails, and
recreational facilities, including upgrades to some neighborhood parks, expanded trail
connections, and major enhancements to Spring Lake Park and Lakefront Park? BY VOTING
YES ON THIS BALLOT QUESTION, YOU ARE VOTING FOR A PROPERTY TAX INCREASE."
FINANCIAL IMPACT:
If the referendum passes in November, the City will issue bonds totaling $60M over a five-year
period beginning in 2026.
ALTERNATIVES:
1. Motion and second as part of the consent agenda to approve the ballot language for the
property tax referendum for park improvements.
2. Motion and second to remove this item from the consent agenda for additional
discussion.
City of Prior Lake | 4646 Dakota Street SE | Prior Lake MN 55372