2017-063 Resolution Approving the Proposed 2018 Tax Levy, Setting Debt Levies Under Those Required in the Bond Covenants, Approving the Proposed 2018 Budget, and Setting Budget Meeting DateCITY OF HOPKINS
Hennepin County, Minnesota
RESOLUTION NO. 2017-063
RESOLUTION APPROVING THE PROPOSED 2018 TAX LEVY, SETTING
DEBT SERVICES LEVIES AT LEVELS UNDER THOSE REQUIRED IN THE BOND
COVENANTS, APPROVING THE PROPOSED 2018 BUDGET, AND
SETTING BUDGET MEETING DATE
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF HOPKINS, MINNESOTA,
That the following sums be ]evied for 2018 upon the taxable property in the City of Hopkins,
for the following purposes.
General Lew
General
Special Levies
Debt Levies
2010A GO Improvement Bonds
2012A GO Capital Improvement Bonds
2012B GO Bonds
2012B Equipment Certificates
2013A GO Bonds
2014A GO Bonds
2014B GO Refunding Bonds
2015A GO Street Reconstmction Bonds
2015B GO Tax Abatement Bonds
2016A GO Improvement Bonds
2016B GO Tax Abatement Bonds
2016C Equipment Certificates
2017A GO S[reet Reconstruction Bonds
201 �B GO Tax Aba[emen[ Bonds
Subtota] Special Levies
Total Levy
80,000
220,000
I 20,000
90,000
80,000
90,000
670,000
250,000
I 15,000
90,000
34,891
242,484
900,000
166,848
$11,072,657
3,149,223
�14 22 1.880
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 2018 for the following issues be levied at amounts less than that provided by the bond
covenants.
Bond Issue
$2,710,000 G.O. Improvement Bonds of 2010A (B2679)
$5,505,000 G.O. Bonds of 2012B (B2833)
$3,650,000 G.O. Bonds of 2013A (B2833)
$1,895,000 G.O. Improvement Bonds of 2014A (B2964)
Net Debt
Service Lew
$ 80,000
$ 210,000
$ 80,000
$ 90,000
$6,345,000 G.O. Refunding Bonds of 2014B(B2983) $ 670,000
$4,100,000 G.O. Street Reconstruction bonds of 2015A(B3031) $ 250,000
$2,940,000 G.O. Tax Abatement Bonds of 2015B $ 115,000
$4,335,000 G.O. Improvement Bonds of 2016A(B3123) $ 90,000
$1,630,000 G.O. Tax Abatement Bonds of 2016B (B3122) $ 34,981
$11,795,000 G.O. Street Reconstruction Bonds of 2017A (B3198) $ 900,000
$3,170,000 G.O. Tax Abatement Bonds of 2017B $ 166,848
That the Proposed 2017 General Fund Budget be set at$13,435,355.
That the budget meeting to discuss the 2017 budget and tax levy be set for December 5,2017 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 19`h day of September 2017.
By / (1_
MolliCummings, Mdyor
ATTEST:
JatuuLeA
Amy Domeier,City Clerk