18-59 - 09-20 - Adopt Proposed 2019 Budget & Tax Payable 2019 Resolution 18-59 September 20, 2018
Member Schmidgall introduced the following resolution and moved its adoption:
RESOLUTION ADOPTING THE PROPOSED 2019 BUDGET AND
PROPOSED TAX LEVY PAYABLE IN 2019
WHEREAS, State Law requires the certification of a proposed budget and
proposed tax levies no later than October 1, 2018; 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
Equipment Certificates, Series 2016B (B3115), the amount of $289,170; and Equipment
Certificates, Series 2017A (B3196), the amount of$300,825 will not be levied through a
debt levy but paid partially with a General Fund Levy (General Fund Transfer); and
WHEREAS, the debt service levy as established in the bond documents for the
General Obligation Bonds, Series 2016C (83114), the amount of $390,036 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
General Obligation Bonds, Series 2017B (B3197), the amount of $20,925 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 $18,625,845
Bonded Debt Levy:
Certificates of Indebtedness 0
Brookview Center 1,216,300
Street Improvement Bonds 3,881,654
TOTAL Tax Levy $23,723.799
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 2019 for
the City of Golden Valley.
BE IT FURTHER RESOLVED, that the proposed 2019 budget of the General Fund
is $21,691,575 and the proposed 2020 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. 18-59 -2- September 20, 2018
Shep rd M. Harris,A ayor
ATTEST:
s
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: Clausen,
Fonnest, Harris, Rosenquist and Schmidgall 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.