2014-047 Approving Proposed 2015 Tax LevyCITY OF HOPKINS
HENNEPIN COUNTY, MINNESOTA
RESOLUTION NO. 2014-047
RESOLUTION APPROVING THE PROPOSED 2015 TAX LEVY, SETTING
DEBT SERVICES LEVIES AT LEVELS UNDER THOSE REQUIRED IN THE BOND
COVENANTS, APPROVINGTHE PROPOSED 2015 BUDGET, AND
SETTING BUDGET MEETING DATE
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF HOPKINS, MINNESOTA,
That the following sums be levied for 2015 upon the taxable property in the City of
Hopkins, for the following purposes.
General Lev
General Fund
$9,427,729
Special Levies
PERA Levy
35,500
Debt Levies
2007A GO Capital Improvement Bonds
765,808
2007B GO Improvement Bonds
183,971
2010A GO Improvement Bonds
82,194
2012A GO Capital Improvement Bonds
220,000
2012B GO Bonds
70,000
2012B Equipment Certificates
96,285
2013A GO Improvement Bonds
75,000
2014A GO Bonds
88,471
Subtotal Special Levies
1,617,229
Total Levy 11.044.958
HRA/EDA Levv
Housing & Redevelopment Authority Levy 272,572
That based upon staff analysis of specials assessments currently levied for Permanent
Improvement Bonds, alternative revenue sources for the Capital Improvement Bonds and
Equipment Certificates, and available reserves within all debt service funds listed below, that the
debt service levies for 2015 for the following issues be levied at amounts less than that provided by
the bond covenants.
Net Debt
Bond Issue Service Levy
$9,920.000 G.O. Capital Improvement Bonds of 2007A (132213) $765,808
$5,505,000 G.O. Bonds — Equipment Certificates of 2012B (132833) S 97,965
$5,505,000 G.O. Bonds of 2012B (132833) S 70,000
$3,650,000 G.O. Improvement Bonds of 2013A (132883) S 75,000
$1,895,000 G.O. Improvement Bonds of 2014A (2964) S 88,471
That the Proposed 2015 General Fund Budget be set at $11,346,716.
That the budget meeting to discuss the 2015 budget and tax levy be set for December 2, 2013
at 7:00 pm in the City Council Chambers.
BE IT FURTHER RESOLVED that the City Clerk is hereby ordered and directed to transmit a
certified copy of this resolution to the County Auditor of Hennepin County, Minnesota.
Adopted by the City Council of the City of Hopkins this 2"d day of September 2014.
By
EtCene Maxwell, Mayor
ATTEST:
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Amy Domeier, City Clerk