2016-062 Approving the Proposed 2017 Tax Levy and Setting Budget Meeting DateCITY OF HOPKINS
Hennepin County, Minnesota
RESOLUTION NO. 2016-062
RESOLUTION APPROVING THE PROPOSED 2017 TAX LEVY, SETTING
DEBT SERViCES LEVIES AT LEVELS UNDER THOSE REQUIRED IN THE BOND
COVENANTS, APPROVING THE PROPOSED 2017 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 2017 upon the taxable property in the City of
Hopkins, for the following purposes.
General Levv
General
Saecial Levies
Debt Levies
2010A GO Improvement Bonds
2012A GO Capital Improvement Bonds
2012B GO Bonds
2012B Equipment Certificates
2013A GO Bonds
2014A GO Bonds
2014B GO Refunding Bonds
2015A GO Street Reconstruction Bonds
2015B GO Tax Abatement Bonds
2016A GO Improvement Bonds
2016B GO Tax Abatement Bonds
Subtotal Special Levies
Total Levy
81,472
220,000
140,000
94,605
93,388
97,000
821,625
264,576
139,792
11 ],413
39,495
$ I 0,961, U 7
2,103,366
$13.064 543
That based upon staff analysis of specials assessments currently levied for Pernianent
Improvement Bonds, alte�roative 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 2017 for the following issues be levied at amounts less than that provided by
the bond covenants.
Bond Issue
$5,505,000 G.O. Bonds of 2012B (B2833)
$1,895,000 G.O.ImprovementBondsof2014A (B2964)
$6,345,000 G.O. Refunding Bonds of 2014B (B2983)
That the Proposed 2016 General Fund Bud�?et be set at $12,859,823.
Net Debt
Service Lew
$ 140,000
$ 97,000
� 821,625
That the budget meeting to discuss the 2017 budget and tax levy be set for December 6, 2016 at 7:00
pm in the Ciry Council Chambers.
BE IT FURTHER RESOLVGD that thc City Clerk is hereby ordered and directed to transmit a certified
copy of [his resolution to [he County Auditor of Hennepin County, Minnesota.
Adopted by the City Council of the City of Hopkins this 20'�' day of September 2016.
By /li�l��� �,�.�-�,�
Mo y Cummings, Mayor
ATTGST:
�i��;�'��,�I
� Amy Domeier, City Clerk