RESO 24-056 - Adopting Proposed 2025-2026 Budget and Proposed Tax Levies Payable in 2025RESOLUTION NO. 24-056
ADOPTING THE PROPOSED 2025-2026 BUDGET AND
PROPOSED TAX LEVY PAYABLE IN 2025
WHEREAS, State Law requires the certification of a proposed budget and
proposed tax levies no later than September 30, 2024; and
WHEREAS, the City Council has met and discussed the proposed budget and tax
levy; and
WHEREAS, the debt service levy as established in the bond documents for the
General Obligation Bonds, Series 2016C (B2822), the amount of $390,770.63 will not be
levied in 2025 due to the utilization of the franchise fees collected from gas and electric
utilities, and
WHEREAS, the debt service levy as established in the bond documents for the
General Obligation Bonds, Series 2017B (B2825A), the amount of $20,885.18 will not be
levied due to the utilization of the internal state aid monies.
NOW, THEREFORE, BE IT RESOLVED, that there is hereby levied upon all taxable
property located within the City of Golden Valley the following amounts:
General Tax Levy $27,965,845
Bonded Debt Levy:
Brookview Center 1,215,200
Street Improvement Bonds 5,564,785
TOTAL Tax Levy $34,745,830
BE IT FURTHER RESOLVED, the City Clerk shall certify to the Hennepin County
Auditor a copy of this resolution approving the property tax levies for collection in 2024 for
the City of Golden Valley.
BE IT FURTHER RESOLVED, that the proposed 2025 budget of the General Fund
is $31,785,700 and the proposed 2025 budget is approved in concept only.
BE IT FURTHER RESOLVED, that the City Council declares its intent to take all
necessary actions legally permissible to the submission and approval of the City’s budget
and property tax levies both proposed and final.
Adopted by the City Council of Golden Valley, Minnesota this 17th day of September,
2024.
Roslyn Harmon, Mayor
ATTEST:
Theresa Schyma, City Clerk
Docusign Envelope ID: C58D50FA-A4D5-4B11-A245-B67C7CC01757