HomeMy Public PortalAbout2014-058 Resolution Reducing Debt Service Tax Levies for 2015Member Martin introduced the following resolution and moved its adoption:
CITY OF MEDINA
RESOLUTION NO.2014-58
RESOLUTION REDUCING DEBT SERVICE TAX LEVIES FOR 2015
WHEREAS, Hennepin County maintains a bond register with the City's scheduled bonded
debt levies for taxes payable in 2015, and requests a City resolution canceling the debt levy if the
City does not levy the scheduled amounts; and
WHEREAS, the City has determined that specific debt levies may be partially reduced due
to the accumulation and projection of other revenue sources, including previously collected tax
levies, previously collected and future projected special assessments, and utility fund contributions;
and
NOW THEREFORE, BE IT RESOLVED, by the city council of the City of Medina,
County of Hennepin, Minnesota, that the following reductions of debt service levies be made for
taxes payable in 2015:
Scheduled Proposed Reduction
Lew Lew To Lew
Debt Service:
2010A G.O. Improvement Bonds $ 43,475 $ 29,000 $ 14,475
2011A G.O. Bonds $ 17,735 $ 12,500 $ 5,235
2011B Taxable G.O. Improvement Bonds $ 82,846 $ 55,000 $ 27,846
2012A G.O. Capital Improvement Plan Bonds $ 307,834 $ 246,267 $ 61,567
2013A G.O. Refunding Bonds $ 165,506 $ 132,405 $ 33,101
BE IT FURTHER RESOLVED, that the City Administrator, Scott T. Johnson, is hereby
instructed to transmit a certified copy of this resolution to the county auditor of Hennepin County,
Minnesota.
Date: September 2, 2014.
ATTEST:
J
Scott T. Johnson, City Administrator -Clerk
Resolution No. 2014-58
September 2, 2014
The motion for the adoption of the foregoing resolution was duly seconded by member Pederson
and upon vote being taken thereon, the following voted in favor thereof:
Anderson, Martin, Martinson, Pederson, Weir
And the following voted against same:
None
Whereupon said resolution was declared duly passed and adopted.
Resolution No. 2014-58 2
September 2, 2014