HomeMy WebLinkAbout07-164 2008 Budget and Tax Levy
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4rllVNE;~l'> RESOLUTION 07-164
A RESOLUTION ADOPTING PROPOSED 2008 CITY BUDGETS AND CERTIFYING
PRELIMINARY 2008 CITY OF PRIOR LAKE PROPERTY TAX LEVY
TO SCOTT COUNTY DEPARTMENT OF TAXATION
MOTION BY:
Hedbera
SECOND BY:
LeMair
WHEREAS, Truth in taxation provisions as specified by state statute requires the Prior Lake City
Council to certify a proposed property tax levy to the Scott County Department of
Taxation; and
WHEREAS, The City Council of the City of Prior Lake anticipates a 2008 General Fund Operating
Budget increase of approximately 6.34%, which would amount to $12,426,431, and
subject to approval by the City Council at its budget adoption proceeding scheduled for
December 17, 2007; and
WHEREAS, The City of Prior Lake's proposed 2008 Enterprise Fund budgets (Water & Sewer,
Water Quality) total an aggregate $4,411,188 excluding transfers; and
WHEREAS, The City of Prior Lake's proposed 2008 Transit Service Fund budget totals $575,651;
and
WHEREAS, The total proposed property tax levy approved has been determined to be $9,365,437;
and
WHEREAS, The City of Prior Lake hereby certifies that the levy certification rate will increase for
payable 2008 property taxes; and
WHEREAS, The proposed City of Prior Lake property tax levy for the year payable 2008 represents
an increase of 7.42%; and
WHEREAS, The City Council will consider the 2008 General Operating Budget, Enterprise Fund
Budgets and the Final 2008 Property Tax Levy during its regularly scheduled council
meeting at 6:00 p.m. on Monday December 3, 2007 at 4646 Dakota Street SE, Prior
Lake with a continuation (if necessary) at 6:00 p.m. on December 10, 2007.
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF PRIOR LAKE that:
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 2008:
Purpose
Amount
*
For General City Purposes
Revolving Equipment Fund
$6,554,743.00
$300,000.00
*
WWW.dtyofpriorlake.com
Phone 952.447.9800 / Fax 952.447.4245
* G.O. Improvement Bonds '98 (Duluth) $60,000.00
* G.O. Improvement Bonds '99 (Candy Cove) $53,000.00
* G.O. Improvement Bonds '00 (Oak Ridge) $77,000.00
* G.O. Improvement Bonds '01 (Frog Town) $62,000.00
* G.O. Improvement Bonds '02 (Pixie Point) $63,000.00
* G.O. Improvement Bonds '03 (150th Street) $120,000.00
* G.O. Improvement Bonds '04 (Breezy Point) $183,000.00
* CSAH 82 Improvement Appropriation '06 $136,663.00
* G.O. Street Reconstruction Bonds '07 $179,550.00
* G.O. Building Bonds '05 (EDA) $576,170.00
** Fire Station #1 Referendum Bonds '93 $165,400.00
** Park Referendum Bonds '97 $624,581.00
** Fire Station #2 Referendum Bonds '06 $210,330.00
Total... $9,365,437.00
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 September, 2007.
YES NO
Haugen X Haugen
Erickson X Erickson
Hedberg X Hedberg
LeMair X LeMair
Millar x Millar
{Seal}
City Mahager
City of Prior Lake