2008-049
CITY OF HOPKINS
IIennepin County, Minnesota
RESOLUTION NO. 2008-049
RESOLUTION APPROVING THE PROPOSED 2009 TAX LEVY, SETTING
DEBT SERVICES LEVIES AT LEVELS UNDER THOSE REQUIRED IN THE BOND
COVENANTS, APPROVINGTHE PROPOSED 2009 BUDGET, AND
SETTING PUBLIC HEARING DATES
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF HOPKINS, MINNESOTA,
That the following sums be levied for 2009 upon the taxable property in the City of Hopkins, for
the following purposes.
General Levy
General Fund
$8,260,614
Special Levies
PERA Rate Increase
Debt Levies
1999D GO Permanent Improvement Bonds
2001 GO Refunding Bonds - Park & Rec
2002B GO Improvement Bonds
2003 HRA Lease Revenue Bonds
2007 A GO Capital Improvement Bonds
2007B GO Improvement Bonds
Subtotal Special Levies
35,500
26,000
130,000
59,000
225,000
642,000
175,000
1,292,500
Total Levy
$9.553,114
HRA/EDA Levy
Housing & Redevelopment Authority Levy
$ 50.000
That based upon staff analysis of specials assessments currently levied for Permanent
Improvement Bonds, alternative revenue sources for the Capital Improvement Bonds and available
reserves within all debt service funds listed below that the debt service levies for 2009 for the following
issues be levied at amounts less than that provided by the bond covenants.
Bond Issue
$ 850,000 G.O. Permanent Improvement Revolving Bonds of 1999D
$ 820,000 G.O. Refunding Bonds of2001 - Park & Rec of 1992
$ 960,000 G.O. Permanent Improvement Revolving Bonds of2002B
$9,920.000 G.O. Capital Improvement Bonds of 2007 A
$1,955,000 G.O. Permanent Improvement Bonds of2007B
Net Debt
Service Levy
$ 26,000
$130,000
$ 59,000
$642,000
$175,000
That the Proposed 2009 General Fund Budget be set at $10,075,492.
That the public hearing for the 2009 Budget and Tax Levy be set for December 8, 2008 at 6:30 pm with a
continuation hearing date of December 16,2008 at 7:30 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 2nd day of September 2008.
BY~~
gen axwell, Mayor
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