16-11302r RESOLUTION NO. 11302
RESOLUTION ADOPTING A PROPOSED BUDGET AND TAX LEVY
FOR THE YEAR 2017
WHEREAS, the Minnesota Truth in Taxation law provides for a proposed tax levy to
be certified to the County Auditor by September 30, 2016 and then recertified before
December 28, 2016.
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 2017 is hereby approved and
adopted with appropriations for each of the departments to be as follows:
General Fund
Legislative/Executive $ 878,580
Administrative Services 1,423,440
Public Safety 8,835,540
Fire Services 4,150,030
Community Development 1,411,290
Public Works 3,972,780
Recreation Services 1,887,210
Transfer Out 175,000
TOTAL GENERAL FUND $22,733,870
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 2017 which are
more fully detailed in the City Manager's official copy of the 2017 budget, are
hereby found and determined to be as follows:
TOTAL GENERAL FUND $22,733,870
3. There is hereby levied upon all taxable property in the City of Richfield a direct ad
valorem tax in the year 2016, payable in 2017 for the following purposes and in
the following amounts:
PURPOSE AMOUNT
General Fund' $16,026,2932
Equipment 770,000
Debt Service 2,279,399
Cedar Point Tax Abatement 358,998
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 included all fiscal disparities distribution amounts.
4. The debt service tax levy as established in the bond documents for the G.O.
Street Reconstruction Bonds, Series 2012A, will be reduced from $142,076 to
$129,695 due to the use of surplus bond proceeds from the issue.
5. The debt service tax levy as established in the bond documents for the G.O.
Street Reconstruction Bonds, Series 2015A will be reduced from $637,199 to
$283,861 due to the utilization of gas and electric franchise fees.
6. The debt service tax levies for the G.O. Capital Improvement Bonds, Series
2007A are cancelled for collection years 2017 through 2027. The amount to be
cancelled for 2017 is $373,500.
7. The debt service tax levies for the G.O. Improvement Bonds, Series 2007B are
cancelled for collection years 2017 through 2027. The amount to be cancelled for
2017 is $261,900.
8. A debt service tax levy will be established for the G.O. Refunding Bonds, Series
2016B, levied in 2016, payable in 2017 for $518,009.
9. The budget for the Housing and Redevelopment Authority of Richfield for the year
2017 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 2016, payable
in 2017 for the following purposes:
PURPOSE AMOUNT
Housing and Redevelopment Authority $531,723
5. A certified copy of this resolution shall be transmitted to the County Auditor.
Adopted by the City Council of the City of Richfield, Minnesota this 13th day of
December 2016.
Debbie Goettel, Mayor
ATTEST:
v)O-L'&$
Elizabeth VanHoose, City Clerk