07-9984r
RESOLUTION NO. 9984
RESOLUTION ADOPTING A PROPOSED BUDGET AND TAX LEVY
FOR THE YEAR 2008
WHEREAS, the Minnesota Truth in Taxation law provides for a proposed tax levy to
be certified to the County Auditor by September 15, 2007 and then recertified before
December 31, 2007.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Richfield,
Minnesota as follows:
1. The budget for the City of Richfield for the year 2008 is hereby approved and
adopted with appropriations for each of the departments to be as follows:
General Fund
Leg islative/Executive
Administrative Services
Public Safety
Fire Services
Community Development
Public Works
Recreation Services
Transfers
TOTAL GENERAL FUND
$ 843,990
1,144,910
8,077,080
2,979,160
281,530
3,997,020
1,640,860
46,240
$19,010,790
2. The estimated gross revenue of the City of Richfield from all sources, including
general ad valorem tax levies as hereinafter set forth for the year 2008 which are
more fully detailed in the City Manager's official copy of the 2008 budget, are
hereby found and determined to be as follows:
TOTAL GENERAL FUND $19,010,790
3. There is hereby levied upon all taxable property in the City of Richfield a direct
ad valorem tax in the year 2007, payable in 2008 for the following purposes and
in the following amounts:
PURPOSE
General Fund1
Equipment
G.O. Improvement. Bonds, Series 2007A
G.O. Improvement Bonds, Series 2007B
AMOUNT
$11,813,7282
548,340
373,400
264,700
1 Provision has been made in the General Fund for the payment of the City's
contributory share to Public Employees' Retirement Association.
2 General Fund Levy includes all fiscal disparities distribution amounts.
4. The budget for the Housing and Redevelopment Authority of Richfield for the
year 2008 is hereby ratified and approved. There is hereby levied upon all
taxable property in the City of Richfield a direct ad valorem tax in the year 2007,
payable in 2008 for the following purposes:
PURPOSE
AMOUNT
Housing and Redevelopment Authority
$474,675
5. A certified copy of this resolution shall be transmitted to the County Auditor.
6. The Truth in Taxation public hearings shall be set for 7:00 p.m. December 3,
2007 with a continuation hearing at 7:00 p.m. December 10, 2007 if necessary.
Adopted by the City Council of the City of Richfield, Minnesota this 11th day of
September 2007.
\j)~ Q:ttt
Debbie Goettel, Mayor
ATTEST: