97-8505r
80
RESOLUTION NO. 8505
RESOLUTION ADOPTING A PROPOSED BUDGET AND TAX LEVY
FOR THE YEAR 1998
WHEREAS, the Minnesota Truth in Taxation law provides for a proposed tax
levy to be certified to the County Auditor by September 15, 1997, and then recertified
before December 31, 1997.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Richfield, Minnesota as follows:
1. The proposed budget for the City of Richfield for the year 1998 is hereby
approved and adopted with appropriations for each of the departments to be
as follows:
General Fund
Legislative/Executive
Administrative Services
Public Safety
Community Development
Public Works
Recreation Services
Transfers
TOTAL GENERAL FUND
$ 666,960
949,040
7,24,870
235,440
3,075,230
1,390,270
230,000
$14,071,810
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
1998 which are more fully detailed in the City Manager's official copy of the
1998 budget, are hereby found and determined to be as follows:
TOTAL GENERAL FUND
$14,071,810
3. There is hereby levied upon all taxable property in the City of Richfield a
direct ad valorem tax in the year 1997, payable in 1998 for the following
purposes and in the following amounts:
PURPOSE
GENERAL FUND 1
AMOUNT
$27,929,927
"
Resolution No. 8505
-2-
1 Provision has been made in the General Fund for the payment of the City's
contributory share to Public Employees' Retirement Association. All
authorized levies for debt service will be canceled as there are sufficient
funds available to pay 1997 principal and interest. See separate resolutions
for the cancellation of the tax levies for debt service.
2 General Fund Levy included all fiscal disparities distribution and HACA
amounts.
'.4. The proposed budget for the Housing and Redevelopment Authority of
Richfield for the year 1998 is hereby ratified and approved. There is hereby
levied upon all taxable property in the City of Richfield a direct ad valorem ta
in the year 1997, payable in 1998 for the following purposes:
PURPOSE
AMOUNT
Housing and Redevelopment
Authority
$ 179,350
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,
1997 with a continuation hearing at 7:00 p.m. December 10, 1997 if
necessary.
Adopted by the City Council of the City of Richfield, Minnesota this 8th day of
September, 1997.
?!z~Jl~
Martin J. Kir c ayor
ATTEST:
~p~
Thomas P. Ferber, City Clerk