2018-078 Approving the Proposed 2019 Tax Levy, Setting Debt Services Levies at Levels Under those Required in the Bond Covenants, Approving the Proposed 2019 Budget, and Setting Budget Meeting Date CITY OF HOPKINS
Hennepin County, Minnesota
RESOLUTION NO. 2018-078
RESOLUTION APPROVING THE PROPOSED 2019 TAX LEVY, SETTING
DEBT SERVICES LEVIES AT LEVELS UNDER THOSE REQUIRED IN THE BOND
COVENANTS, APPROVING THE PROPOSED 2019 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 2019 upon the taxable property in the City of
Hopkins, for the following purposes.
General Levy
General $12,384,507
Special Levies
Debt Levies
2010A GO Improvement Bonds 90,000
2012A GO Capital Improvement Bonds 220,000
2012B GO Bonds 150,000
2012B Equipment Certificates 96,495
2013A GO Bonds 88,348
2014A GO Bonds 97,000
2014B GO Refunding Bonds 655,000
2015A GO Street Reconstruction Bonds 250,000
2015B GO Tax Abatement Bonds 115,000
2016A GO Improvement Bonds 100,000
2016B GO Tax Abatement Bonds 34,366
2016C Equipment Certificates 240,240
2017A GO Street Reconstruction Bonds 925,000
2017E GO Tax Abatement Bonds 163,908
2018A GO Equipment Certificates 78,000
2018A GO Improvement Bonds 355,072
Subtotal Special Levies 3,658,429
Total Levy $16,042,936
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 fiends listed below, that the
debt service levies for 2019 for the following issues be levied at amounts less than that provided by
the bond covenants.
Net Debt
Bond Issue Service Levy
$2,710,000 G.O. Improvement Bonds of 2010A(B2679) $ 90,000
$5,505,000 G.O. Bonds of 2012B (B2833) $ 246,495
$3,650,000 G.O. Bonds of 2013A (132833) S 88,348
$1,895,000 G.O. Improvement Bonds of 2014A(B2964) $ 97,000
$6,345,000 G.O. Refunding Bonds of 2014B (132983) $ 655,000
$4,100,000 G.O. Street Reconstruction bonds of 2015A(13303 1) $ 250,000
$2,940,000 G.O. Tax Abatement Bonds of 2015B $ 115,000
$4,335,000 G.O. Improvement Bonds of 2016A(133123) $ 100,000
$1,630,000 G.O. Tax Abatement Bonds of 2016B (133122) $ 34,366
$11,795,000 G.O. Street Reconstruction Bonds of 2017A(133198) $ 925,000
$6,715,000 G.O. Bonds of 2018A $ 433,072
That the Proposed 2018 General Fund Budget be set at$14,410,478.
That the budget meeting to discuss the 2019 budget and tax levy be set for December 4, 2018 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 18`h day of September 2018.
By JO &L L L4A 7
MOO Cummings, Ma or
ATTEST:
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Amy Domeier, City Clerk