2015-060 Approving the Proposed 2016 Tax Levy CITY OF HOPKINS
HENNEPIN COUNTY, MINNESOTA
RESOLUTION 2015-060
RESOLUTION APPROVING THE PROPOSED 2016 TAX LEVY, SETTING
DEBT SERVICES LEVIES AT LEVELS UNDER THOSE REQUIRED IN THE BOND
COVENANTS, APPROVINGTHE PROPOSED 2016 BUDGET, AND
SETTING BUDGET MEETING DATE
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF HOPKINS, MINNESOTA,
That the following sums be levied for 2016 upon the taxable property in the City of
Hopkins, for the following purposes.
General Levy
General Fund $10,041,951
Special Levies
Debt Levies
2010A GO Improvement Bonds 79,437
2012A GO Capital Improvement Bonds 220,000
2012B GO Bonds 141,970
2012B Equipment Certificates 96,285
2014A GO Bonds 87,993
2014B GO Refunding Bonds 881,975
2015A GO Street Reconstruction Bonds 264,261
2015B GO Tax Abatement Bonds 135,957
Subtotal Special Levies 1,907,878
Total Levy 511,949,829
HRA/EDA Levy
Housing& Redevelopment Authority Levy S 296,813
That based upon staff analysis of specials 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 2016 for the following issues be levied at amounts less than that provided by
the bond covenants.
Net Debt
Bond Issue Service Levy
$5,505,000 G.O. Bonds of 2012B (B2833) $ 141,970
$5,505,000 G.O. Bonds of 2012B (EC)(B2833) $ 96,285
$3,650,000 G.O. Improvement Bonds of 2013A (B2883) $ 0
$1,895,000 G.O. Improvement Bonds of 2014A (B2964) $ 87,993
$6,345,000 G.O. Refunding Bonds of 2014B (B2983) $ 881,975
$4,100,000 G.O. Street Reconstruction Bonds of 2015A(B3031) $ 264,261
That the Proposed 2016 General Fund Budget be set at$11,875,730.
That the budget meeting to discuss the 2016 budget and tax levy be set for December 1, 2015 at 7:00
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 1'day of September 2015.
By
ugen axwell, Mayor
ATTEST:
/ 1.)/ jLeA
Amy Domeier, City Clerk