PUBLIC HEARING - Joe Huss, Finance Director
Title
ADOPTING 2015 TAX LEVY
Background
Council conducted a public hearing for the proposed 2015 General Fund budget and proposed property tax levy on December 11. At that hearing, Council directed staff to research the possibility of additional spending reductions. Pursuant to that direction and statutory requirements, a public hearing is again scheduled for tonight at which the City Council will consider public input and adopt a final levy and budget.
The first item of action will be to adopt the 2015 tax levy. With the actual amount of the levy left unresolved at the conclusion of the December 11 public hearing, the attached resolution authorizes a tax levy that reflects reductions recommended by staff pursuant to Council directive.
In association with the attached resolution, Council will also adopt the 2015 General Fund Budget. This will be done under a separate resolution following the public hearing and adoption of the 2015 property tax levy.
Schedule of Actions
December 11, 2014 |
Truth-In-Taxation public hearing |
December 18, 2014 |
Public Hearing |
|
Adopt 2015 General Fund Budget |
Body
WHEREAS, a proposed General Fund Budget for the fiscal year commencing January 1, 2015 has been prepared by the City Manager and presented to the City Council; and
WHEREAS, it will require the levying of taxes to finance, in part, the General Fund Budget; and
WHEREAS, the City Management has analyzed the city's debt service balances and determined that it will require the levying of taxes to finance scheduled debt service payments; and
WHEREAS, the scheduled levies are to be adjusted for 2015; and
WHEREAS, the City Charter stipulates that a resolution levying taxes be certified to the County Auditor; and
WHEREAS, it is the intent of this resolution to certify the tax levy to the County Auditor.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Blaine that the following debt service levies previously scheduled for 2015 are canceled:
GO Open Space Refunding Bonds of 2010A $323,951
GO Capital Improvement Bonds of 2005A $619,241
GO Capital Improvement Bonds of 2007A $768,750
GO Improvement Bonds of 2008B $177,713
GO Equipment Certificate of Indebtedness 2010B $112,620
GO Equipment Certificate of Indebtedness 2011A $344,828
GO Improvement Bonds of 2012A $210,098
GO Improvement Refunding Bonds of 2012B $596,008
BE IT FURTHER RESOLVED by the City Council of the City of Blaine as follows:
1. The County Auditors of Anoka County and Ramsey County shall levy taxes upon the taxable property in the City of Blaine during fiscal year 2015 as follows:
General $18,647,265
Pavement Management Program General Levy $250,000
General Obligation Improvement Bonds of 2008B $75,000
General Obligation Capital Improvement Bonds of 2005A $375,000
General Obligation Capital Improvement Bonds of 2007A $750,000
General Obligation Equipment Certificates of 2010 $100,000
General Obligation Equipment Certificates of 2011 $255,000
General Obligation Improvement Bonds of 2012A $210,000
General Obligation Improvement Bonds of 2012B $585,000
General Obligation Improvement Bonds of 2014A $296,610
General Obligation Equipment Certificates of 2014B $200,000
GO Open Space Ref Bonds of 2010A (market value) $300,000
TOTAL $22,043,875
2. The City Clerk is hereby authorized and directed to forward a certified copy of this resolution to the County Auditors of Anoka County and Ramsey County.
PASSED by the City Council of the City of Blaine this 18th day of December, 2014.
Recommendation
By motion, adopt the attached resolution.