09-11 Resolution No. 11541
RESOLUTION NO. 11541
RESOLUTION ADOPTING A PROPOSED BUDGET AND TAX LEVY
FOR THE YEAR 2019
WHEREAS
, the Minnesota Truth in Taxation law provides for a proposed tax levy
to be certified to the County Auditor by October 1, 2018 and then recertified before
December 28, 2018.
NOW, THEREFORE, BE ITRESOLVED
by the City Council of the City of
Richfield, Minnesota as follows:
1. The budget for the City of Richfield for the year 2019 is hereby approved and
adopted with appropriations for each of the departments to be as follows:
General Fund
Legislative/Executive $ 928,660
Administrative Services 1,404,090
Public Safety 9,516,580
Fire Services 4,441,800
Community Development 1,571,710
Public Works 4,187,140
Recreation Services 1,968,070
Transfers Out 210,000
TOTAL GENERAL FUND $24,228,050
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
2019 which are more fully detailed in the City Manager’s official copy of the
2019 budget, are hereby found and determined to be as follows:
TOTAL GENERAL FUND $24,228,050
3. There is hereby levied upon all taxable property in the City of Richfield a
direct ad valorem tax in the year 2018, payable in 2019 for the following
purposes and in the following amounts:
PURPOSE AMOUNT
General Fund 1 $16,716,313 2
Equipment 800,000
Economic Development Authority 567,281
Debt Service 3,170,338
Cedar Point Tax Abatement 372,760
1
Provision has been made in the General Fund for the payment of the City’s
contributory share to Public Employees’ Retirement Association.
Resolution No. 11541
2 General Fund Levy includes 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 $143,336 to
$130,955 due to the use 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 $625,203 to
$276,301 due to the utilization of gas and electric franchise fees.
6. The debt service tax levy as established in the bond documents for the G.O.
Street Reconstruction Bonds, Series 2018A will be reduced from $703,474 to
$375,563 due to the utilization of gas and electric franchise fees.
7. The budget for the Housing and Redevelopment Authority of Richfield for the
year 2019 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
2018, payable in 2019 for the following purposes:
PURPOSE AMOUNT
Housing and Redevelopment Authority $594,781
8. A certified copy of this resolution shall be transmitted to the County Auditor.
9. The Truth in Taxation public meeting shall be set for 6:00 p.m. November 28,
2018.
Adopted by the City Council of the City of Richfield, Minnesota this 11th day of
September 2018.
Pat Elliott, Mayor
ATTEST:
Eliza•eta !'Hoose, ity Clerk
Resolution No. 11541