2020-045 Resolution Approving the Proposed 2021 Tax Levy, Setting Debt Services Levies at Levels Under Those Required in the Bond Covenants, Approving the Proposed 2021 Budget, and Setting Budget Meeting Date CITY OF HOPKINS
Hennepin County, Minnesota
RESOLUTION NO. 2020-045
RESOLUTION APPROVING THE PROPOSED 2021 TAX LEVY, SETTING
DEBT SERVICES LEVIES AT LEVELS UNDER THOSE REQUIRED IN THE BOND
COVENANTS, APPROVING THE PROPOSED 2021 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 2021 upon the taxable property in the City of
Hopkins, for the following purposes.
General Lew
General $13,904,734
Suecial Levies
Debt Levies
2010A GO Improvement Bonds 95,000
2012A GO Capital Improvement Bonds 225,000
2012B GO Bonds 160,000
2012B Equipment Certificates 92,925
2013A GO Bonds 88,453
2014A GO Bonds 97,000
2014B GO Refunding Bonds 670,000
2015A GO Street Reconstruction Bonds 250,000
2015B GO Tax Abatement Bonds 115,000
2016A GO Improvement Bonds 100,000
2016B GO Tax Abatement Bonds 33,316
2016C Equipment Certificates 242,445
2017A GO Street Reconstruction Bonds 975,798
2017B GO Tax Abatement Bonds 4,040
2018A GO Equipment Certificates 79,222
2018A GO Improvement Bonds 464,136
2019A GO Bonds 426,315
Subtotal Special Levies 4,118,650
Total Levy ��;g.023.384
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 2021 for the following issues be levied at amounts less than that provided by
the bond covenants.
Net Debt
Bond Issue Service Lew
$2,710,000 G.O. Improvement Bonds of 2010A(B2679) $ 95,000
$5,505,000 G.O.Bonds of 2012B (B2833) $252,925
$3,650,000 G.O. Bonds of 2013A(B2833) $ 88,453
$1,895,000 G.O. Improvement Bonds of 2014A(B2964) $ 97,000
$6,345,000 G.O. Refunding Bonds of 2014B (B2983) $ 670,000
$4,100,000 G.O. Street Reconstruction bonds of 2015A(B3031) $ 250,000
$2,940,000 G.O.Tax Abatement Bonds of 2015B $ 115,000
$4,335,000 G.O. Improvement Bonds of 2016A(B3123) $ 100,000
$1,630,000 G.O. Tax Abatement Bonds of 2016B (B3122) $ 33,316
$11,795,000 G.O. Street Reconstruction Bonds of 2017A(B3198) $ 975,798
$3,170,000 G.O. General Obligation Bonds of 2017B $ 4,040
$6,715,000 G.O. Bonds of 2018A $464,136
$12,185,000 G.O. Bonds of 2019A $426,315
That the Proposed 2021 General Fund Budget be set at$15,750,838.
That the budget meeting to discuss the 2021 budget and tax levy be set for November 30, 2020 at 7:00
PM in the City Council Chambers or virtually under Minn. Stat. § 13D.021.
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 15"'day of September 2020.
By
Jason Gadd, ayor
ATTEST:
Amy Domeier,City Clerk