ITEM: 9.2 PUBLIC HEARING - Joe Huss, Finance Director
Title
RESOLUTION ADOPTING 2012 TAX LEVY
Background
Council conducted a public hearing for the proposed 2012 General Fund budget and proposed property tax levy on December 8. Pursuant to 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 2012 tax levy. The attached resolution reflects the tax levy that Council directed be brought forth for consideration at the December 8, 2011 public hearing.
In association with the attached resolution, Council will also adopt the 2012 General Fund Budget. This will be done under a separate resolution following the public hearing and adoption of the 2012 property tax levy.
Schedule of Actions
December 8, 2011 - Conduct Truth-In-Taxation public hearing
December 15, 2011 -
(1) Conduct public hearing;
(2) Adopt 2012 General Fund Budget
Body
WHEREAS, a proposed General Fund Budget for the fiscal year commencing January 1, 2012 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 2012; 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 2012 are canceled:
|
|
GO Open Space Refunding Bonds of 2010A |
$320,696 |
GO Improvement Bonds of 2004B |
$478,596 |
GO Capital Improvement Bonds of 2005A |
$460,050 |
GO Capital Improvement Bonds of 2007A |
$767,490 |
GO Improvement Bonds of 2008B |
$235,377 |
GO Equipment Certificate of Indebtedness 2010B |
$108,780 |
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 2012 as follows:
General |
$16,295,000 |
Pavement Management Program General Levy |
238,834 |
General Obligation Improvement Bonds of 2004B |
450,000 |
General Obligation Improvement Bonds of 2008B |
225,000 |
General Obligation Capital Improvement Bonds of 2005A |
400,000 |
General Obligation Capital Improvement Bonds of 2007A |
767,490 |
General Obligation Equipment Certificates of 2010 |
95,000 |
General Obligation Equipment Certificates of 2011 |
253,066 |
GO Open Space Ref Bonds of 2010A (market value) |
320,696 |
TOTAL |
$19,045,086 |
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.
Recommendation
By motion, adopt the attached resolution.