HomeMy WebLinkAboutResolution - 2015-116 - Approve 2016 Tax Levy & Budget - 12/01/2015 CITY OF EDEN PRAIRIE
HENNEPIN COUNTY, MINNESOTA
RESOLUTION NO. 2015-116
A RESOLUTION CERTIFYING THE 2016 TAX LEVY
AND ADOPTING THE 2016 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 2016 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 for the following purposes:
Taxes to be Levied Against Tax Capacity
General Fund $ 31,998,874
Capital Improvements 100,000
Bonds and Interest
2008A Equipment Certificates 335,000
2009B Equipment Certificates 45,000
2011B Equipment Certificates 72,000
2012B Southwest Fire Station 310,000
2014A Tax Abatement Bonds 0
Tax Capacity Levy for Certification 32,860,874
Less Fiscal Disparities Distribution 1,562,101
Net Tax Collectible 31,298,773
Taxes to be Levied Against Market Value
2011 C Park Bonds 725,000
2012A Park Bonds 150,000
Market Value Tax Levy for Certification 875,000
Tax Abatement 925,000
Total Net Tax Collectible $ 33,098,773
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 2).
BE IT FURTHER RESOLVED that,with the conclusion of the Proposed Property Tax and Budget
Hearing process, the City Council approves the 2016 Budget totaling $45,877,812.
BE IT FURTHER RESOLVED that the council consents and approves the 2016 HRA tax levy of
$200,000.
ADOPTED by the Eden Prairie City Council this 1 st day of December, 2015.
4Ndra-L?ee or
ATTEST:
K th een Porta, City Clerk
CITY OF EDEN PRAIRIE
NOTICE OF ADJUSTMENT TO REQUIRED DEBT LEVIES
LEVIED YEAR 2015,COLLECTED YEAR 2016
EXHIBIT 2
Debt levy amounts previously certified may be adjusted to the amounts shown below due to the availability of
other repayment sources.
Date of Amount of Required Levy Actual Levy
OUTSTANDING DEBT WITH REQUIRED LEVY Issue Issue 2015/2016 2015/2016
G.O.Equipment Bonds 2008A 10/01/08 $3,120,000 $388,321 $335,000
G.O.Equipment Bonds 2009B 07/21/09 $2,455,000 $68,828 $45,000
G.O.Equipment Bonds 2011B 01/01/11 $415,000 $91,928 $72,000
G.O.Park Bonds 2011C 12/01/11 $4,455,000 $783,006 $725,000
G.O.Park Bonds 2012A 03/01/12 $5,110,000 $155,039 $150,000
G.O.Capital Imrpovement Crossover Refunding Bonds 2012B 02/21/12 $3,170,000 $311,962 $310,000
G.O.Tax Abatement Bonds 2014A 06/17/14 $17,155,000 $943,701 $925,000
GRAND TOTAL $ 2,742,785 $2,562,000