2024-069 Resolution Approving the 2025 Tax Levy, 2025 HRA Levy and Adopting the 2025 General and Special Revenue Fund Budgets CITY OF HOPKINS
HENNEPIN COUNTY, MINNESOTA
RESOLUTION 2024-069
RESOLUTION APPROVING THE 2025 TAX LEVY, 2025 HRA LEVY AND ADOPTING
THE 2025 GENERAL AND SPECIALREVENUE 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 $16,899,575
Special Levies
Debt Levies
2014A GO Street Reconstruction Bonds(3011A) 68,000
2014A GO Improvement Bonds(3011B) 29,000
2015B GO Tax Abatement(3013) 105,000
2015A GO Street Reconstruction Bonds(3014) 240,000
2016A GO Improvement Bonds(3017) 85,000
2016B GO Tax Abatement Bonds(3018) 10,000
2016C GO Bonds (3020B) 125,000
2017A GO Street Reconstruction Bonds(3021) 990,000
2017B GO Tax Abatement Bonds(3022A) 158,020
2018A GO Street Reconstruction Bonds(3024A) 80,000
2018A GO Improvement Bonds(3024B) 295,000
2018A GO Equipment Certificates(3024C) 52,794
2019A GO Street Reconstruction Bonds (3025A) 92,000
2019A GO Improvement Bonds (3025B) 252,889
2019A GO Capital Improvement Bonds(3025D) 40,000
2019B GO Refunding Bonds(3026B) 165,000
2020A GO Improvement Bonds(3027B) 141,000
2020A GO Street Reconstruction Bonds (3027D) 15,934
2020B GO Refunding Bonds(3029) 238,627
2021A GO Improvement Bonds (3030A) 197,113
2021A GO Street Reconstruction Bonds(3030C) 16,925
2022A GO Equipment Certificates(3031A) 123,742
2022A GO Improvement Bonds(3031B) 197,486
2023A GO Temporary Improvement Bonds(3032) 30,000
Subtotal Special Levies $3,748,530
TOTAL LEVY $20,648,105
HRA LEVY
Housing & Redevelopment Authority Levy $511,646
This levy is made based on current law and the 2025 General Fund Budget of
$19,920,490
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 2025 for the following issues be levied at amounts
less than provided by the bond covenants.
Bond Issue
2014A GO Street Reconstruction Bonds(3011A) 68,000
2014A GO Improvement Bonds(3011B) 29,000
2015B GO Tax Abatement(3013) 105,000
2015A GO Street Reconstruction Bonds(3014) 240,000
2016A GO Improvement Bonds(3017) 85,000
20168 GO Tax Abatement Bonds(3018) 10,000
2016C GO Bonds(3020B) 125,000
20188 GO Tax Abatement(3023) -
2018A GO Street Reconstruction Bonds(3024A) 80,000
2018A GO Improvement Bonds(3024B) 295,000
2018A GO Equipment Certificates(3024C) 52,794
2019A GO Street Reconstruction Bonds(3025A) 92,000
2019A GO Improvement Bonds (3025B) 252,889
2019A GO Capital Improvement Bonds(3025D) 40,000
2020A GO Equipment Certificates(3027A) -
BE IT FURTHER RESOLVED, that the following amounts are budgeted for the Special
Revenue Funds:
State Chemical Assessment $65,000 Economic Development $555,646
MN Public Safety $453,901 Parking $161,185
Race & Equity Initiative $6,000 Communications $30,961
Depot $270,611 TIF 2.11 Super Valu $2,900,000
TIF 1.4 Marketplace and Main $44,768 TIF 1.5 The Moline $1,729,914
Arts Center $1,219,259 Sustainability $345,000
Adopted by the City Council of the City of Hopkins this 2nd day of December, 2024.
By:
Pa anion, Mayor
ATTEST:
wtv
Amy Domeier, City Clerk