CR2003-068 amend fees
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April 11, 2003
HOPKINS
Council Report 2003-068
AMEND PREVIOUSLY APPROVED FEES
Proposed Action
Staff recommends adoption of the following motion: Move to adopt
resolution 03-037, amendino fees in the Hopkins City Code. Chapter Ten.
Overview
Recently the city approved several fee adjustments in the Hopkins City
Code, Chapter Ten. Staff recommended a new fee for the annual
administration associated with issuing taxable/tax exempt bonds. The
approved fee is above what the legal recommendation. Staff is proposing
the city reduce the fee from 1/4 of 1 % to 1/8 of 1 %. This new rate falls
within the guidelines offered by the state. The flat rate of $5,000 will
remain in effect.
Staff recommendation
Finance. recommends adopting resolution 03-037 approving the new fee.
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Finance Director
Financial Impact: $_ Budgeted: Y/N
Related Documents (CIP, ERP, etc.):
N
Source:
Notes:
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CITY OF HOPKINS
HENNEPIN COUNTY, MINNESOTA
RESOLUTION 2003-037
RESOLUTION AMENDING FEES IN CHAPTER 10
OF THE HOPKINS CITY CODE
WHEREAS, the Hopkins City Code allows fees to be set by resolution; and
,
WHEREAS, City staff has reviewed the current fees and recommended increases and/or
reductions of current fees and the inclusion of new fees.
NOW, THEREFORE, BE IT RESOLVED to adopt changes in Chapter 10 of the
Hopkins City Code as follows:
1020.25 Economic Development
5. Taxable/tax-exempt bond
application fee
$5,000.00
6. Taxable/tax-exempt bond
annual administration fee
1/8 of 1 % of the outstanding
balance of the bond issue
BE IT FURTHER RESOLVED that Policy #7D, taxable/tax-exempt policy, is revised
to reflect this fee amendment.
Adopted by the City Council of the City of Hopkins, Minnesota, this
April 2003.
day of
Eugene 1. Maxwell, Mayor
ATTEST:
,
Terry Obermaier, City Clerk