HomeMy WebLinkAboutResolution No. 2011-087 Maximum Levy for 2012 & Budget 2012 RESOLUTION NO. 2011-87
w9sNA, A RESOLUTION ADOPTING THE PROPOSED
o� e BUDGET FOR THE CITY OF EDINA FOR YEAR 2012,
N o AND ESTABLISHING THE PROPOSED
• �� = ay TAX LEVY PAYABLE IN 2012
THE CITY COUNCIL OF THE CITY OF EDINA,MINNESOTA,DOES RESOLVE AS FOLLOWS:City Of Edina
Section 1:The Budget for the City of Edina for calendar year 2012,is hereby proposed as follows:
TOTAL GENERAL FUND $30,604,436
TOTAL CONSTRUCTION FUND $1,667,309
DEBT SERVICE OF CIP PLAN BONDS-SERIES 2010A $950,800
DEBT SERVICE OF THE HRA PUBLIC PROJECT BONDS-SERIES 2005A $411,644
DEBT SERVICE OF CIP PLAN BONDS-SERIES 2007A $432,744
DEBT SERVICE OF PUBLIC WORKS FACILITY BONDS $1,695,125
DEBT SERVICE OF EQUIPMENT CERTIFICATES $ 67,500
DEBT SERVICE OF PARK AND RECREATION BONDS SERIES 1996A/2005A $610,862
TOTAL EXPENDITURES $36,440,420
Section 2:Estimated receipts other than General Tax Levy are hereby proposed as follows:
TOTAL ESTIMATED RECEIPTS $9,000,034
Section 3:That the budget proposes to transfer to the Debt Service Funds the following:
DEBT SERVICE REDUCTIONS FROM TRANSFERS $516,923
• TOTAL TRANSFERS FOR DEBT SERVICES FUNDS $516,923
Section 4.That the budget proposes to utilize reserves as follows:
FOR EQUIPMENT EXPENDITURES $675,237
TOTAL RESERVE DRAWDOWN $675,237
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 $21,604,402
FOR CONSTRUCTION FUND $992,072
LEVY FOR PAYMENT OF CIP PLAN BONDS-SERIES 2010A $950,800
LEVY FOR PAYMENT OF HRA PUBLIC PROJECT BONDS-SERIES 2005A $411,644
LEVY FOR PAYMENT OF CIP PLAN BONDS-SERIES 2007A $432,744
LEVY FOR PAYMENT OF PUBLIC WORKS FACILITY BONDS $1,178,202
LEVY FOR PAYMENT OF EQUIPMENT CERTIFICATES $67,500
TOTAL TAX CAPACITY LEVY $25,637,364
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 $610,862
TOTAL LEVY $26,248,226
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EDINA,MINNESOTA,55424-1394 www.CityofEdina.com TTY 952-826-0379
RESOLUTION NO.2011-87
A RESOLUTION ADOPTING THE PROPOSED
BUDGET FOR THE CITY OF EDINA FOR YEAR 2012,
AND ESTABLISHING THE PROPOSED
• TAX LEVY PAYABLE IN 2012
Approved this 6th day of September 2011.
Attest:
Debra A.Mangen,City herk James B.Hovland,Mayor
STATE OF MINNESOTA )
COUNTY OF HENNEPIN )SS
CITY OF EDINA )
CERTIFICATE OF CITY CLERK
1,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_.
City Clerk
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