CR 99-224 Adoption Of 2000 Budget And Tax Levy
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December 6, 1999
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Council Report 99-224
ADOPTION OF 2000 BUDGET AND TAX LEVY
Proposed Action
Staff recommends adoption of the following motion: Move to approve Resolution 99-111
adopting the 2000 budget and tax levy collectible in 2000.
Adoption of this motion will result in the staff forwarding the appropriate documentation
to Hennepin County for completion of the property taxes for 2000.
Overview
The City Council and staff have held a variety of meetings during 1999 to prepare for the
2000 budget and 2000 tax levy. Budget Goals were adopted this spring and were
instrumental in guiding the staff as it prepared budget requests. The council adopted other
financial plans, i.e. the Capital Improvement Plan and the Equipment Replacement Plan.
These tools and a series of program and budget discussions have brought the city to a point
of final decision making.
The budget in its' current form recommends spending in the general fund at $7,418,723 and
a tax levy of$5,664,144.
At the writing of this report, the official budget hearing has been held. It is likely that
additional changes will not occur prior to final adoption. Staff is recommending that the
council adopt the resolution setting the budget and tax levy for 2000.
Primary Issues to Consider
· What alternatives does the City Council have?
The council could consider extending the budget deliberations for additional
information. But the council must adopt a budget and tax levy before the end of 1999.
Supporting Information
. Resolution 99-111
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CITY OF HOPKINS
HENNEPIN COUNTY, MINNESOTA
RESOLUTION 99-111
RESOLUTION APPROVING 1999 TAX LEVY
COLLECTIBLE IN 2000 AND ADOPTING THE 2000 BUDGET
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 2000 upon the taxable property in
said City of Hopkins, for the following purposes.
General Fund
General Obligation Bonds
Improvement Bonds
Total Levy
Proposed
$5,334,144
$ 240,000
$ 90,000
$5,664,144
This levy is made based on current law and the 2000 General Fund Budget of $7,418,723.
Provision has been made for the payment of the City's contributory share to the Public Employees
Retirement Association.
Provision has also been made for the payment of principal and interest on the following bond issues:
G.O. Sewer Revenue Bonds 12-1-89 & Refunded 10-15-93
Redevelopment Bonds 12-1-89 & Refunded 10-15-93
Park Bonds 3-1-90* &Refunded 10-15-93 *
Refunding Bonds 3-1-90 & Refunded 10-15-93
Improvement Revolving Bonds 3-1-90*
Refunding Bonds (Taxable) 2-1-92
Improvement Revolving Bonds 8-1-92*
Redevelopment Bonds C 10-1-96
*Levy
Redevelopment Bonds D 10-1-96
Housing Bonds 9-1-95
Housing Bonds 6-1-97
Redevelopment Bonds 1- 1-97
Taxable G.O. Housing Impr. Bonds 5-1-99
Taxable G.O. Housing Impr. Bonds 8-1-99
G.O. Improvement Revolv. Bonds 8-1-99*
G.O. Storm Sewer Revenue Bonds 8-1-99
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 at the levy adoption hearing of the Council held this
7th day of December, 1999.
ATTEST:
Terry Obermaier, City Clerk
Charles D. Redepenning, Mayor