HomeMy WebLinkAboutResolution - 96-217 - Tax Levy Collectible in 1997; Adopting 1997 Budget - 12/17/1996 CITY OF EDEN PRAIRIE
HENNEPIN COUNTY, NIINNESOTA
RESOLUTION NO. 9 6 - 2 1
A RESOLUTION CERTIFYING THE 1996 TAX LEVY, COLLECTIBLE IN 1997,
AND ADOPTING THE 1997 GENERAL FUND BUDGET
WHEREAS, the City Council has reviewed the budget recommended by the City Manager,
listened to public comment, and discussed the proposals and tax levy for the 1997 General Fund
Budget,
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL of the City of Eden
Prairie, County of Hennepin, Minnesota, that the following sums of money be levied upon the
taxable property in said City the following purposes:
Taxes to be levied against tax capacity
General Fund $15,265,000
Equipment Revolving Fund 551,600
Bonds and Interest
1986 Fire Bonds 208,000
Equipment Certificates 329,000
1977 Fire Bonds 75,500
1989 Recreation Facility Refunding Bond 379,000
Special Assessment Bonds -- City Share 500,000
1989 Public Facility Refunding Bonds 277,000
$17,585,100
Less HACA 645,970
Net tax capacity levy
for certification $16,939,130
Less Fiscal Disparities distribution 712,246
Net tax collectible in 1997 $16,226,884
Taxes to be levied against market value
1992 & 1993 Park Bonds $ 298,000
1994 Open Space Bonds 157,000
Market value tax levy
for certification $ 455,000
Total net tax collectible in 1997 $16,681,884
Funds have been provided for principal and interest payments on all bond issues except as shown
above, and no other levies are required (as shown in Exhibit 1).
Resolution Certifying 1996 Tax Levy, Collectible in 1997, and Adopting the 1997 General
Fund Budget
BE IT FURTHER RESOLVED that the City Council declare its compliance with the "Truth-in-
Taxation" requirements, having published a notice of Proposed Property Tax and Budget Hearing
in the Eden Prairie News on November 21, 1996 and conducting the hearing on December 4,
1996.
BE IT YET FURTHER RESOLVED that, with the conclusion of the Proposed Property Tax
and Budget Hearing process, the City Council approves the 1997 Budget for the General Fund and
Debt Service Obligations totalling $23,595,396.
Adopted by the City Council December 17, 1996
can L. Harris, Mayor
Attest:
Jo . Frane, City Clerk
CITY OF EDEN PRAIRIE
NOTICE OF ADJUSTMENT TO REQUIRED DEBT LEVIES
LEVIED YEAR 1996,COLLECTED YEAR 1997
Debt levy amounts previously certified may be adjusted to the amounts shown below due to the availability of
other repayment sources.
Date of Amount Required Levy Actual Levy*
OUTSTANDING DEBT WITH REQUIRED LEVY Issue of Issue 1996/1997 1996/1997
G.O.Fire Bonds 1977 09/20/77 $998,000 73,675 $75,500
G.O.Building Bonds 1986 12/01/86 $2,300,000 157,488 $164,975
G.O.Public Building Refunding Bonds 1989A 04/01/89 $2,060,000 264,960 $277,000
G.O.Recreation Facility Refunding Bonds 1989B 04/01/89 $2,770,000 365,260 $379,000
G.O.Equipment Certificates 1994B 08/01/94 $1,200,000 324,295 $329,000
G.O.Park Bonds 1992A 07/01/92 $1,100,000 $100,058 $100,000
G.O.Park Bonds 1993A 05/01/93 $3,400,000 $186,630 $198,000
G.O.Open Space Bonds 1994A 08/01/94 $1,950,000 $151,598 $157,000
G.O.Building Refunding Bonds 1995 06/01/95 $1,680,000 $40,975 $43,025
G.O.Water and Sewer 1976 10/01/76 $1,640,000 $30,930 $0
G.O.Water and Sewer 1977 09/20/77 $1,400,000 $116,288 $0
G.O.Water&Sewer Refunding Bonds 1978 03/01/78 $6,150,000 $789,000 $0
G.O.Improvement Bonds 1991B 09/01/91 $6,050,000 $773,369 $0
G.O.Improvement Refunding Bonds 1991D 10/01/91 $7,235,000 $789,680 $500,000
OUTSTANDING DEBT WITH NO REQUIRED LEVY
H.R.A.Lease Revenue Bonds 1992A 08/01/92 $2,640,000
H.R.A.Lease Revenue Bonds 1993B 12/01/92 $9,760,000
H.R.A.Taxable Lease Revenue Bonds 1993C 12/01/92 $2,355,000
H.R.A.Lease Revenue Bonds 1993A 05/01/93 $1,415,000
G.O.Water Revenue Bonds 1986 12/01/86 $1,700,000
G.O.Water and Sewer Refunding 1991C 09/01/91 $9,500,000
G.O.Water and Sewer Revenue Refunding 1991F 10/01/91 $3,125,000
G.O.Water and Sewer Refunding Bonds 1993C 05/01/93 $6,735,000
G.O.Improvement Refunding Bonds 1978 03/01/78 $5,090,000
G.O.Improvement Bonds 1978 12/01/78 $500,000
G.O.Improvement Bonds 1988A 12/01/88 $9,800,000
G.O.State Aid Road Refunding Bonds 1991E 10/01/91 $420,000
G.O.State Aid Road Bonds 1992B 07/01/92 $1,940,000
G.O.Improvement Bonds 1993B 05/01/93 $2,695,000
G.O.Improvement Refunding Bonds 1995 06/01/95 $3,255,000
GRAND TOTAL $4,164,206 $2,223,500
* subject to reduction by HACA and Fiscal Disparities,except 1992, 1993& 1994 Park Bonds