17-78 - 12-05 - Adopt Property Tax Levies Resolution 17-78 December 5, 2017
Member Clausen introduced the following resolution and moved its adoption:
RESOLUTION ADOPTING THE PROPERTY TAX LEVIES FOR TAXES PAYABLE 2018
WHEREAS, the City Council has approved the proposed operating budgets for
calendar year 2018; and
WHEREAS, the proposed budgets require monies to be raised from property taxes on
taxable property within the City of Golden Valley; and
WHEREAS, the debt service levy as established in the bond documents for the General
Obligation Bonds, Series 2013A (132891), will be reduced by $350,831.60 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$389,511 will not be levied 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
Equipment Certificates, Series 2015B (83041), the amount of$289,170; Equipment
Certificates, Series 2016B (B3115), the amount of $289,485; and Equipment Certificates,
Series 2017A (B3196), the amount of $303,923 will not be levied through a debt levy but paid
partially with a General Fund Levy (General Fund Transfer).
NOW, THEREFORE BE IT RESOLVED, by the City Council, that the following sums of
money be raised by property tax on taxable property within the City of Golden Valley for taxes
payable in 2018 as set out in the 2018-2019 adopted City budgets.
2017 Property Tax Levy
General Tax Levy $17,428,460
Bonded Debt Levy:
Certificates of Indebtedness $0
Street Improvement Bonds 3,773,982
Brookview Community Center 1,218,300
TOTAL Tax Levy $22,420,742
BE IT FURTHER RESOLVED, that said property tax levy be certified to the County
Auditor of Hennepin County.
She rd M. Harris, Mayor
ATTEST: �j
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Kristine A. Luedke, City Clerk
The motion for the adoption of the foregoing resolution was seconded by Member Snope
and upon a vote being taken thereon, the following voted in favor thereof: Clausen, Fonnest,
Harris, Schmidgall 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.