2023-050 Resolution Approving the 2024 Tax Levy, 2024 HRA Levy and Adopting the 2024 General and Special Revenue Fund Budgets CITY OF HOPKINS
HENNEPIN COUNTY, MINNESOTA
RESOLUTION 2023-050
RESOLUTION APPROVING THE 2024 TAX LEVY, 2024 HRA LEVY AND ADOPTING
THE 2024 GENERAL AND SPECIAL REVENUE FUND BUDGETS
THEREFORE BE IT RESOLVED, that the City Council of the City of Hopkins hereby
approves the following sums be levied for 2024 upon the taxable property in the City of
Hopkins, for the following purposes:
General Levy
General $15,571,326
Special Levies
Debt Levies
2014A GO Bonds 97,000
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 36,781
2016C GO Bonds 200,000
2017A GO Street Reconstruction Bonds 915,000
2017B GO Tax Abatement Bonds 102,061
2018A GO Equipment Certificates 79,487
2018A GO Improvement Bonds 450,000
2019A GO Bonds 375,000
2019B GO Refunding Bonds 115,300
2020A GO Bonds 193,125
2020B GO Refunding Bonds 308,114
2021A GO Bonds 208,662
2022A GO Bonds 325,072
2023A GP Temporary Bonds 227,011
Subtotal Special Levies $4,107,613
Total Levy $19,678,939
HRA LEVY
Housing & Redevelopment Authority Levy $487,653
This levy is made based on current law and the 2024 General Fund Budget of
$18,421,803
That based upon staff analysis of special 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 2024 for the following issues be levied at amounts
less than provided by the bond covenants.
Bond Issue
$1,895,000 GO Bonds of 2014A $ 97,000
$4,100,000 GO Street Reconstruction Bonds of 2015A $250,000
$4,335,000 GO Improvement Bonds of 2016A $100,000
$1,875,000 GO Bonds of 2016C $200,000
$11,795,000 Street Reconstruction Bonds of 2017A $915,000
$3,170,000 GO Tax Abatement Bonds of 2017B $102,061
$6,715,000 GO Improvement Bonds of 2018A $ 79,487
$3,285,000 GO Tax Abatement Bonds of 2018B $ 0
$12,185,000 GO Bonds of 2019A $375,000
$2,015,000 GO Refunding Bonds of 2019B $115,000
BE IT FURTHER RESOLVED, that the following amounts are budgeted for the Special
Revenue Funds:
State Chemical Assessment $65,000 Economic Development $520,278
TIF 1.2 Entertainment District $14,228 MN Public Safety $439,095
Parking $159,894 Race & Equity Initiative $6,000
Communications $281,487 Depot $183,832
TIF 2.9 Oakes of Main $2,095 TIF 2.11 Super Valu $2,875,266
TIF 1.4 Marketplace and Main $214,948 TIF 1.5 the Moline $2,530,195
Arts Center $1,144,097 Sustainability $385,000
Adopted by the City Council of the City of Hopkins this 4th day of December, 2023.
By:
atriHanlon, Mayor
ATTEST:
If ,etcA
Amy Domeier, City Clerk