16-55 - 09-20 - 2017 Budget and Tax Levy Resolution 16-55 September 20, 2016
Member Schmidgall introduced the following resolution and moved its adoption:
RESOLUTION ADOPTING THE PROPOSED 2017 BUDGET AND
PROPOSED TAX LEVY PAYABLE IN 2017
WHEREAS, State Law requires the certification of a proposed budget and
proposed tax levies no later than September 30, 2016; 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 2013A (B2891), will be reduced from $526,216.36 to
$160,423 due to the transfer from the 2015 positive performance to help fund the city's
portion of the tax abatement, and
WHEREAS, the debt service levy as established in the bond documents for the
General Obligation Bonds, Series 2016C (133114), the amount of $394,236 will not be
levied due to the utilization of the franchise fees collected from gas and electric utilities,
and
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 $14,998,330
Bonded Debt Levy:
Certificates of Indebtedness 849,398
Brookview Community Center 1,350,000
Street Improvement Bonds 4,465,375
TOTAL Tax Levy $21,663,103
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 2017 for
the City of Golden Valley.
BE IT FURTHER RESOLVED, that the proposed 2017 budget of the General Fund
is $18,279,730 and the proposed 2018 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.
Resolution No. 16-55 -2- September 20, 2016
Sh and M. Har s, Mayor
ATTEST:
Kristine A. Luedke, City Clerk
The motion for the adoption of the foregoing resolution was seconded by Member Clausen
and upon a vote being taken thereon, the following voted in favor thereof: Harris, Clausen,
Schmidgall, Fonnest and Snope and the following voted against the same: none
whereupon said resolution was declared duly passed and adopted, signed by the Mayor
and his signature attested by the City Clerk.