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HomeMy WebLinkAbout07-164 2008 Budget and Tax Levy ~~)E ~~:~t:~:~~~t~;;i2Ei714 \ ,..~,...,<".../ - . -~-- /" I!r 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