HomeMy WebLinkAbout3F - 1991 Preliminary Tax Levy
CONSENT AGENDA:
REQUESTED BY :
SUBJECT MATTER:
DATE:
Introduction:
DISCUSSION:
HERITAGE
1891
COMMUNITY
1991
cu:7J'Sf)JV
2Q91
3 (f)
RALPH TESCHNER, FINANCE DIRECTOR
CONSIDER APPROVAL OF PRELIMINARY 1991 TAX LEVY
RESOLUTION 90-43
AUGUST 20, 1990
Property tax le9islation for 1990 requires
that each "taxl.ng authority" certify a
proposed property tax levy for payable 1991 to
the County Auditor on or before September 1,
1990. The purpose is to allow the County
adequate time to prepare, calculate and mail
generic notices of proposed property taxes for
the upcoming year based upon the tax proposals
of the County, School District and City.
In addition to this information, the date,
time and place for the scheduled public
hearings of each of the respective entities is
shown. The information is presented in an easy
understandable format so the taxpayer can
readily evaluate and compare the property tax
impact from year to year.
The budget public hearing dates selected and
reserved for the City of Prior Lake are
November 19, 1990 and December 3, 1990 in the
event of a Council continuation. During this
time period, the budget will formally be
discussed and acted upon.
However, it is essential the City initially
certifies the greatest allowable amount under
the levy limits because once certified, a city
is then restricted to downward adjustments
only and can NOT increase its final levy. By
adopting this resolution, you are providing
ultimate flexibility for your discussions this
Fall.
Therefore, the amount of the proposed levy
within the resolution is based upon the
1990/1991 Levy Limitation of $2,018,150 plus
specially exempt levies of $603,110 which are
debt related. It is anticipated that such a
levy will support a preliminary budget of
$4,260,000. This is based upon a projected 6%
increase over the current fiscal budget and
represents a maximum assumption.
RECOMMENDATION: Staff would recommend approval of Resolution
90-43 certifying the City of Prior Lake's 1991
initial proposed property tax levy. The
Council took similar action last year.
4629 Dakota S1. S.E., Prior Lake. Minnesota 55372 / Ph. (612) 447-4230 / Fax (612) 447-4245
ALTERNATIVES:
ACTION REQUIRED:
The alternatives are as follows:
1. Approve Resolution 90-43 as submitted.
2. Amend Resolution 90-43 to an amount per
Council concensus.
Motion to approve Resolution 90-43 as part of
the consent agenda is in order.
HERITAGE
1891
COMMUNITY
1991
'UTJ~.h/'
2Q9t
RESOLUTION 90-43
A RESOLUTION CERTIFYING INITIAL "PROPOSED" 1991
CITY OF PRIOR LAKE TAX LEVY TO SCOTT COUNTY AUDITOR
MOTION
BY:
SECONDED BY
WHEREAS, Truth in Taxation provisions within the 1990 property
tax le9islation requires a proposed property tax levy
certifl.cation to the county auditor's office of Scott
County; and
WHEREAS, the City Council of the City of Prior Lake anticipates
a 1991 Operating Budget increase of approximatelr 6.0%
which would amount to $4,260,000.00, exclus1ve of
enterprise fund transfers, and subject to approval by
the Council following the course of public hearings
scheduled for the months of November and December; and
WHEREAS, the total proposed property tax levy approved has been
estimated to be $2,623,315.00; and
WHEREAS, this proposed City of Prior Lake property tax levy for
the year payable 1991 represents an increase of 4.5%;
and
WHEREAS, special levies account
aforementioned levy; and
WHEREAS, the City of Prior Lake's operating budget tax levy
subject to the levy limitation would be equivalent to
$2,018,150.00; and
for
$605,165.00
of
the
WHEREAS, The City of Prior Lake's statutory levy limitation has
been determined to be $2,018,151.00.
NOW, THEREFORE BE IT RESOLVED, by the Mayor and City Council that
the initial tax levy proposal be distributed upon the taxable
property in said City for the following purposes in payable 1991:
$ 2,326,395.00
140,000.00
31,000.00
11,000.00
73,000.00
41,920.00
$ 2,623,315.00
Note: Single starred funds shall be spread over the entire
consolidated City of Prior Lake.
Note: Double starred funds shall be spread over the consolidated
City except for the former Savage portion subject to
annexation.
Note: All other bond issues have sufficient fund balances to
cover debt requirements.
* For General City Purposes
* 3,450,000.00 Bonds '86 (North Shore)
* 225,000.00 Bonds '87 (Carriage Hill)
* 390,000.00 Bonds '88 (North Shore Oaks)
* 1,175,000.00 Bonds '89 (Downtown Project)
** Capital Park Bonds of '73 & '77
4629 Dakota St. S.E., Prior Lake, Minnesota 55372 / Ph. (612) 447-4230 / Fax (612) 447-4245
Passed and adopted this 20th day of August, 1990.
YES
NO
Andren
Fitzgerald
Larson
Scott
White
Andren
Fitzgerald
Larson
Scott
White
{Seal}
David J. Unmacht
City Manager
City of Prior Lake
HERITAGE
1891
COMMUNITY
. 1991
W'JSfJK
.20JI
RESOLUTION 90-43
RESOLUTION DECLARING COST TO BE ASSESSED
AND ORDERING PREPARATION OF PROPOSED ASSESSMENT FOR
Project 90-12 Toronto Avenue Improvements
MOTION BY
SECONDED BY
WHEREAS, a contract has been let (costs have been determined) for the
improvements of proiect 90-12 and the contract (bid) price for such
improvements is $401,210.25, and the expenses incurred or to be
incurred in the making of such improvement amount to $100,302.56, so
that the total cost of the improvement will be $501,512.81,
NOW THEREFORE BE IT RESOLVED BY THE MAYOR AND CITY COUNCIL OF PRIOR LAKE,
MINNESOTA:
1. The portion of the cost of such improvement to be paid by the city
is hereby declared to be $337,393.66 and the portion of the cost
to be assessed against benefited property owners is declared to be
$164,119.15.
2. Assessments shall be payable on an equal principal installment
method extending over a period of 10 years. The first installment
shall be the annual principal plus-rnterest calculated from the
public hearing date to the end of this year plus the twelve months
of the next year and shall bear interest at the rate of 8 per cent
per annum from the date of the adoption of the assessment
resolution.
3. The City Manager, with the assistance of the Cit~ Engineer shall
forthwith calculate the proper amount to be speclally assessed for
such improvement against every assessable lot, piece or parcel of
land within the district affected, without regard to cash
valuation, as provided b~ law, and he shall file a copy of such
proposed assessment in hl.S office for public inspection.
4. The City Manager shall upon the completion of such proposed
assessment, notify the Council thereof.
Passed and adopted this 20th day of
YES
Auqust , 1990.
NO
Andren
Fitzgerald
Larson
Scott
White
Andren
Fitzgerald
Larson
Scott
White
David J. Unmacht
City Manager
City of Prior Lake
{Seal}
4629 Dakota St. S.E., Prior Lake, Minnesota 55372 / Ph. (612) 447-4230 / Fax (612) 447-4245