2021-084 Resolution Approving 2022 Tax Levy and Adopting the 2022 General and Special Revenue Fund Budgets CITY OF HOPKINS
Hennepin County, Minnesota
RESOLUTION NO. 2021-084
RESOLUTION APPROVING 2022 TAX LEVY
AND ADOPTING THE 2022 GENERAL AND
SPECIAL REVEUNE FUND BUDGETS
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF HOPKINS, MINNESOTA,
That the following sums of money be levied for the current year collectible in 2022 upon the
taxable property in the City of Hopkins, for the following purposes.
General Levy
General Operations $14,137,056
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 135,856
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 4,003,044
Total Levy $18,140,100
HRA/EDA Levy
Housing& Redevelopment Authority Levy $ 391,302
This levy is made based on current law and the 2022 General Fund Budget of$16,173,620.
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
$1,905,000 G.O. Capital Improvement Plan Bonds of 2012A $ 0
$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 $ 135,856
$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
BE IT FURTHER RESOLVED,that the following amounts are budgeted for the Special Revenue Funds:
State Chemical Assessment $65,000 TIF 2.9 Oaks of Main $8,591
Economic Development $502,072 TIF 2.11 Super Valu $2,150,000
TIF 1.2 Entertainment District $9,046 5th Avenue Flats $0
Parking $162,030 TIF 1.4—Marketplace & Main $201,410
Hopkins Race& Equity Iniative $6,000 TIF 1.5 —Moline $944,101
Communication (Cable TV) $271,945 Arts Center $1,027,458
Depot Coffee House $254,169
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 on this this 6th day of December, 2021.
Kristi Halverson, ayor Pro Tempore
ATTEST:
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Amy Domeier, City Clerk