HomeMy Public PortalAbout2020-50 Resolution Reducing Debt Service Tax Levies for 2021Member Martin introduced the following resolution and moved its adoption:
CITY OF MEDINA
RESOLUTION NO. 2020-50
RESOLUTION REDUCING DEBT SERVICE TAX LEVIES FOR 2021
WHEREAS, Hennepin County maintains a bond register with the City's scheduled bonded
debt levies for taxes payable in 2021, 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 2021:
Scheduled Proposed Reduction
Lew Levy_ To Levy
Debt Service:
2011B Taxable G.O. Improvement Bonds $ 87,210 $ 61,000 $ 26,210
2012A G.O. Capital Improvement Plan Bonds $ 301,796 $ 241,437 $ 60,359
2013A G.O. Refunding Bonds $ 168,446 $ 134,757 $ 33,689
2015A G.O. Improvement Bonds $ 58,651 $ 58,651 $ -
2016A G.O. Refunding Bonds $ 94,583 $ - $ 94,583
BE IT FURTHER RESOLVED, that the City Clerk Jodi Gallup, is hereby instructed to transmit a
certified copy of this resolution to the county auditor of Hennepin County, Minnesota.
Date: September 1, 2020.
ATTEST:
Jod M. Gallup, City Cler.
Resolution No. 2020-50
September 1, 2020
Kathleen Martin, Mayor
The motion for the adoption of the foregoing resolution was duly seconded by member Anderson
and upon vote being taken thereon, the following voted in favor thereof:
Albers, Anderson, DesLauriers, Martin, Pederson
And the following voted against same:
None
Whereupon said resolution was declared duly passed and adopted.
Resolution No. 2020-50 2
September 1, 2020