19-70 - 12-03 - Adopt Property Tax Levies for 2020 RESOLUTION NO. 19-70
RESOLUTION ADOPTING THE PROPERTY TAX LEVIES
FOR TAXES PAYABLE 2020
WHEREAS, the City Council has approved the preliminary proposed budget and
proposed levy for calendar year 2020 on September 17; 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
Equipment Certificates, Series 2017A (2824B), the amount of$302,820 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 (2822), 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 (2825A), the amount of$22,003.21 will not be
levied due to the utilization of the internal state aid monies.
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 2020 as set out in the 2020-2021 adopted City budgets:
2019 Property Tax Lew Payable in 2020
General Tax Levy $19,649,140
Bonded Debt Levy:
Certificates of Indebtedness 0
Brookview Center 1,218,300
Street Improvement Bonds 4,205,594
TOTAL Tax Levy $25.073.034
BE IT FURTHER RESOLVED, that said property tax levy be certified to the County
Auditor of Hennepin County.
Adopted by the City Council of Golden Valley, Minnesota this 3rd day of December, 2019.
Shepard M. Harris,'Mayor
ATTEST:
Kristine A. Luedke, City Clerk