CR 95-237 Adopt Budget & LevyDecember 15, 1995
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Proposed Action
Staff recommends that the Council approve the following motion: Move that the Hopkins City Council adopt
Resolution #95 -118 approving the 1995 Tax Levy and adopting the 1996 budget.
Adoption of this motion will approve the proposed budget and levy.
Overview
The Hopkins City Council has discussed the proposed budget at several meetings including the budget hearing
on December 8. The final step that the Council needs to take is to approve a resolution approving the levy
and adopting the budget.
Primary Issues to Consider
Should the budget and levy be approved?
If the City Council is satisfied with the proposed budget, it should adopt Resolution 95 -118 as it is
written. If the Council wishes to reduce the tax levy, it would need to instruct staff to make the
appropriate changes to the 1996 budget and then adopt an amended resolution.
Alternatives
1. Adopt Resolution #95 -118 as written. This will result in 1996 budget of $6,592,000.
2. Order cuts in the 1996 budget so as to reduce the tax levy. Adopt an amended version of Resolution
#95 -118.
Staff recommends Alternative #1.
Supporting Information
Resolution #95 -118.
Steve Mielke
City Manager
ADOPT 1996 BUDGET AND LEVY
Council Report 95 -237
CITY OF HOPKINS
Hennepin County, Minnesota
RESOLUTION NO. 95 -118
A RESOLUTION APPROVING 1995 TAX LEVY
COLLECTIBLE IN 1996 AND ADOPTING THE 1996 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 1996 upon the taxable property in said City of
Hopkins, for the following purposes.
General Fund
Equipment Replacement Fund
General Obligation Bonds
Improvement Bonds
This levy is made based on current law and the 1996 General Fund Budget of $6,592,000.
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:
Redevelopment Bonds 5 -1 -88 & Refunded 10 -15 -93
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
*Levy
A. Genellie, City lerk
B
$4,313,000
450,000
248,000
106,000
Char es D. Redepenni
Improvement Revolving Bonds 3 - - 90*
Redevelopment Bonds 5 -22 -91
Refunding Bonds (Taxable) 2 -1 -92
Improvement Revolving Bonds 8 -1 -92*
Housing Bonds 9 -1 -95
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 a regular meeting of the Council held this 19th day
of December, 1995.
, ayor