HomeMy Public PortalAbout2010-062 Resolution Canceling 2008A Imp. Bond LevyMember Johnson introduced the following resolution and moved its adoption:
CITY OF MEDINA
RESOLUTION NO. 2010-62
RESOLUTION CANCELING 2008A IMPROVEMENT BOND LEVY
WHEREAS, the State of Minnesota has adopted Truth in Taxation legislation, which
requires all municipalities to pass a resolution adopting a preliminary budget and certifying the total
proposed tax levy amount to the County Auditor prior to September 15, 2010; and
WHEREAS, it is the desire of the City of Medina, Minnesota, to comply with this law and
submit a proposed property tax levy including general operating and debt levies; and
WHEREAS, the City has conducted a review of the debt fund balances and determined that
sufficient funds are currently available to eliminate the bond levy scheduled to be levied as property
taxes in 2010 and due to be collected in 2011; and
WHEREAS, it is the desire of the City of Medina to utilize the available funds to reduce
the property tax burden on its residents and businesses.
NOW THEREFORE, BE IT RESOLVED by the City Council of the City of Medina,
Hennepin County, Minnesota that the scheduled levy for the $2,280,000 Taxable General
Obligation Improvement Bonds, Series 2008A, in the amount of $94,329.25 for the improvement
portion, is hereby canceled.
Dated: September 21, 2010.
T. M. Crosby, Jr., Mayer
ATTEST:
414
Chad M. Adams, City Administrator -Clerk
The motion for the adoption of the foregoing resolution was duly seconded by member Siitari
and upon vote being taken thereon, the following voted in favor thereof:
Crosby, Johnson, Siitari, Smith
And the following voted against same: (Absent: Weir)
None
Whereupon said resolution was declared duly passed and adopted.
Resolution No. 2010-62
September 21, 2010