2019-071 Approving the Proposed 2020 Tax Levy, Setting Debt Services Levies at Levels under those Required in the Bond Covenants, Approving the Proposed 2020 Budget, and Setting Budget Meeting Date CITY OF HOPKINS
Hennepin County, Minnesota
RESOLUT[ON NO. 2019-071
RESOLUTION APPROVING THE PROPOSED 2020 TAX LEVY, SETTING
DEBT SERVICES LEVIES AT LEVELS UNDER THOSE REQUIRED IN THE BOND
COVENANTS, APPROVING THE PROPOSED 2020 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 2020 upon the taxable property in the City of
Hopkins, for the following purposes.
General Levv
Gencral $13,765,664
Special Levies
Debt Levies
2010A GO Improvement Bonds 95,000
2012A GO Capital Improvement Bonds 225,000
2012B GO Bonds I 60,000
2012B Equipment Certificates 94,710
2013A GO Bonds 91,078
2014A GO Bonds 97,000
2014B GO Refunding Bonds 670,000
2015A GO Street Reconstruction Bonds 250,000
201 SB GO Tax Abatement Bonds 1 15,000
2016A GO Improvcment Bonds 100,000
2016B GO Tax Abatement Bonds 33,841
2016C Equipment Certificates 241,395
2017A GO Street Reconstruction Bonds 973,398
2017B GO Tax Abatement Bonds 160,330
2018A GO Equipment Certificates 81,112
2018A GO Improvement Bonds 456,417
2019A GO Bonds 422,993
Subtotal Special Levies 4,267,274
Total Levy ��1 ,p3_2.938
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 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) $ 95,000
$5,505,000 G.O. Bonds of 2012B (62833) $ 254,710
$3,650,000 G.O. Bonds of 2013A (B2833) $ 91,078
$1,895,000 G.O. Improvement Bonds of 2014A(B2964) $ 97,000
$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) $ 100,000
$1,630,000 G.O. Tax Abatement Bonds of 2016B (B3122) $ 33,841
$11,795,000 G.O. Street Reconstruction Bonds of2017A (B3198) $ 973,398
$6,715,000 G.O. Bonds of 2018A $456,417
$12,185,000 G.O. Bonds of 2019A $422,993
That the Proposed 2020 Gencral Fund Budget be set at $15,583,075.
That the budget meeting to discuss the 2020 budget and tax levy be set for December 3,2019 at 7:00
pm in thc City Council Chambcrs.
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 17`''day of September 2019.
B , �- '/'` -."'`��
y.
Jason Gadd, Mayor
ATTEST:
� .� ; J�,�.
y Domeier, ity Clerk