2011-045 Approve 2012 Tax LevyCITY OF HOPKINS
Hennepin County, Minnesota
RESOLUTION NO. 2011-045
RESOLUTION APPROVING THE PROPOSED 2012 TAX LEVY, SETTING
DEBT SERVICES LEVIES AT LEVELS UNDER THOSE REQUIRED IN THE BOND
COVENANTS, APPROVINGTHE PROPOSED 2012 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 2012 upon the taxable property in the City of
Hopkins, for the following purposes.
General Le
General Fund
$9,006,428
Special Levies
PERA Rate Increase
35,500
Debt Levies
2003 HRA Lease Revenue Bonds
220,000
2007A GO Capital Improvement Bonds
765,900
2007B GO Improvement Bonds
184,500
2010A GO Improvement Bonds
77,000
2010B GO Refunding Bonds
59,000
Subtotal Special Levies
1,341,900
Total Levy �10348,328
HRA/EDA Levy
Housing & Redevelopment Authority Levy 175,000
That based upon staff analysis of specials assessments currently levied for Permanent
Improvement Bonds, alternative revenue sources for the Capital Improvement Bonds and available
reserves within all debt service funds listed below, that the debt service levies for 2012 for the
following issues be levied at amounts less than that provided by the bond covenants.
Net Debt
Bond Issue Service Lew
$9,920.000 G.O. Capital Improvement Bonds of 2007A $765,900
$ 220,000 G.O. Refunding Bonds of 2010B $ 59,000
That the Proposed 2012 General Fund Budget be set at $10,519,463.
That the budget meeting to discuss the 2012 budget and tax levy be set for December 6, 2011 and that
the date the final budget and levy will be adopted be set as December 20, 2010. Both meetings will be held
at 7:30 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 Oh day of September 2011.
By
-�"Eugz6e Maxwell, Mayor
ATTEST:
T T,
erryejh rmaier, City Clerk