97-8526r
101
RESOLUTION NO. 8526
RESOLUTION ADOPTING A BUDGET AND TAX LEVY
FOR THEYEAR 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 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
Leg islative/Executive
Administrative Services
Public Safety
Community Development
Public Works
Recreation Services
Transfers
TOTAL GENERAL FUND
$ 667,640
952,800
7,584,440
237,830
3,081,390
1,395,060
205,000
$14,124,160
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
$ 14,124,160
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 FUND1
AMOUNT
$ 7,929,927 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 1998 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.
Resolution No. 8526
-2-
4. The 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 tax 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.
Adopted by the City Council of the City of Richfield, Minnesota this 8th day of
December, 1997.
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Martin J. Kirsc , Mayor
ATTEST:
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Thomas P. Ferber, City Clerk