HomeMy WebLinkAboutResolution No. 2010-072 A Resolution Adopting the Proposed Budget for the City of Edina for Year 2011, and Establishing the Proposed Tax Levy Payable in 2011•
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RESOLUTION NO. 2010-72
w9iNA , A RESOLUTION ADOPTING THE PROPOSED
o� e BUDGET FOR THE CITY OF EDINA FOR YEAR 2011,
77 5, y AND ESTABLISHING THE PROPOSED
o TAX LEVY PAYABLE IN 2011
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THE CITY COUNCIL OF THE CITY OF EDINA, MINNESOTA, DOES RESOLVE AS FOLLOWS: Clty Of Edina
Section 1: The Budget for the City of Edina for calendar year 2011, is hereby proposed as follows:
TOTAL GENERAL FUND $28,895,000
TOTAL CONSTRUCTION FUND $1,413,547
DEBT SERVICE OF THE HRA PUBLIC PROJECT BONDS -SERIES 2002
$1,051,961
DEBT SERVICE OF THE HRA PUBLIC PROJECT BONDS -SERIES 2005A
$396,444
DEBT SERVICE OF CIP PLAN BONDS -SERIES 2007A
$431,544
DEBT SERVICE OF CIP PLAN BONDS -PUBLIC WORKS FACILITY
$,432,460
DEBT SERVICE OF EQUIPMENT CERTIFICATES
$164,010
DEBT SERVICE OF PARK AND RECREATION BONDS SERIES 1996A/2005A
$ 615,837
TOTAL EXPENDITURES $34,400,803
Section 2: Estimated receipts other than General Tax Levy are hereby proposed as follows:
TOTAL ESTIMATED RECEIPTS $7,433,717
Section 3: That the budget proposes to transfer to the Debt Service Funds the following:
SURPLUS TRANSFERRED FROM GENERAL FUND - EXCESS TIF $200,000
TOTAL TRANSFERS FOR DEBT SERVICES FUNDS $200,000
Section 4. That the budget proposes to utilize reserves as follows:
FOR EQUIPMENT EXPENDITURES $ 678,758
TOTAL RESERVE DRAWDOWN $ 678,758
Section 5. That there is proposed to be levied upon all taxable real and personal property in the City of Edina, a
tax rate sufficient to produce the amount as follows:
FOR GENERAL FUND $21,204,000
FOR CONSTRUCTION FUND $ 992,072
LEVY FOR PAYMENT OF HRA PUBLIC PROJECT BONDS - SERIES 2002 $1,051,961
LEVY FOR PAYMENT OF HRA PUBLIC PROJECT BONDS - SERIES 2005A $ 396,444
LEVY FOR PAYMENT OF CIP PLAN BONDS - SERIES 2007A $ 431,544
LEVY FOR PAYMENT OF CIP PLAN BONDS -PUBLIC WORKS FACILITY $1,232,460
LEVY FOR PAYMENT OF EQUIPMENT CERTIFICATES $164,010
TOTAL TAX CAPACITY LEVY
$25,472,491
Section 6. That there is proposed to be levied upon all taxable real and personal property in the City of Edina, a
tax rate sufficient to produce the amount below for the debt levy of the market value based referendum levy
and cancelling the portion of the levy not required to produce the amount as follows:
GO PARK AND RECREATION BONDS SERIES 1996A/2005A $ 615,837
TOTAL LEVY $26,088,328
City Hall 952-927-8861
4801 WEST 50TH STREET FAX 952-826-0390
EDINA, MINNESOTA, 55424-1394 www.cityofedina.com TTY 952-826-0379
• - RESOLUTION NO. 2010-72
A RESOLUTION ADOPTING THE PROPOSED
BUDGET FOR THE CITY OF EDINA FOR YEAR 2011,
AND ESTABLISHING THE PROPO ED
• TAX LEVY PAYABLE IN 2011 h
Approved this 7st day of September 2010.
Debra A.
STATE OF MINNESOTA )
COUNTY OF HENNEPIN ) SS
CITY OF EDINA )
James B -%viand, Mayor
CERTIFICATE OF CITY CLERK
I, the undersigned duly appointed and acting City Clerk for the City of Edina do hereby certify that the attached
and foregoing Resolution was duly adopted by the Edina City Council at its Regular Meeting of
and as recorded in the Minutes of said Regular Meeting.
WITNESS my hand and seal of said City this day of , 20_.
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City Clerk