2021-048 Resolution Aproving the Proposed 2022 Tax Levy, Setting Debt Services Levies at Levels Under Those Required in the Bond Covenants, Approving the Proposed 2022 Bdget, and Setting Budget Meeting Date CITY OF HOPKINS
Hennepin County, Minnesota
RESOLUTION NO. 2021-048
RESOLUTION APPROVING THE PROPOSED 2022 TAX LEVY, SETTING
DEBT SERVICES LEVIES AT LEVELS UNDER THOSE REQUIRED IN THE BOND
COVENANTS, APPROVING THE PROPOSED 2022 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 2022 upon the taxable property in the City of
Hopkins, for the following purposes.
General Levy
General $14,386,390
Special Levies
Debt Levies
2014A GO Bonds 97,000
2014B GO Refunding Bonds 675,000
2015A GO Street Reconstruction Bonds 250,000
2015B GO Tax Abatement Bonds 125,000
2016A GO Improvement Bonds 100,000
2016B GO Tax Abatement Bonds 38,041
2016C Equipment Certificates 240,000
2017A GO Street Reconstruction Bonds 915,000
2017B GO Tax Abatement Bonds 156,130
2018A GO Equipment Certificates 82,582
2018A GO Improvement Bonds 425,000
2019A GO Bonds 342,097
2019B GO Refunding Bonds 95,000
2020A GO Bonds 150,000
2020B GO Refunding Bonds 332,468
Subtotal Special Levies 4,023,318
Total Levy $18,409,708
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 2022 for the following issues be levied at amounts less than that provided by
the bond covenants.
Net Debt
Bond Issue Service Levy
$1,895,000 G.O. Improvement Bonds of 2014A(B2964) $ 97,000
$6,345,000 G.O. Refunding Bonds of 2014B (B2983) $ 675,000
$4,100,000 G.O. Street Reconstruction bonds of 2015A(B3031) $250,000
$2,940,000 G.O. Tax Abatement Bonds of 2015B $ 125,000
$4,335,000 G.O. Improvement Bonds of 2016A(B3123) $ 100,000
$11,795,000 G.O. Street Reconstruction Bonds of 2017A(B3198) $915,000
$3,170,000 G.O. General Obligation Bonds of 2017B $ 156,130
$6,715,000 G.O. Bonds of 2018A(B3024) $425,000
$12,185,000 G.O. Bonds of 2019A(B3025) $ 342,097
$2,015,000 G.O. Refunding Bonds of 2019B (B3026) $ 95,000
$8,585,000 G.O. Bonds of 2020A(B3027) $ 150,000
That the Proposed 2021 General Fund Budget be set at$16,210,954.
That the budget meeting to discuss the 2022 budget and tax levy be set for December 6,2021 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 7th day of September 2021.
By— (7
Jason Gadd,Mayor
ATTEST:
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Amy Domeier, City Clerk