87-7370RRESOLUTION N0. 7370
RESOLUTION AMENDING RESOLUTION N0. 7346 ADOPTING
A BUDGET FOR THE YEAR 1988 AND LEVYING TAXES
MHEREAS, on September 23, 1987, the City Council adopted
Resolution No. 7346 "Resolution Adopting a Budget for the Year
1988 and Levying Taxes" and
MHEREAS, said Resolution No. 7346 provides that the amount
of $5,701,898 be levied upon all taxable property in the City of
Richfield a direct ad valorem tax in the year 1987, payable in
1988, and
MHEREAS, the State of Minnesota Commission of Revenue on
October 13, 1,987 approved a levy limit base adjustment of
$195,000 for the year 1988 due to the increased cost of
comparable worth and emergency costs due to 1987 storm damage,
and
MHEREAS, an additional levy increase of $125,000 is
necessary to cover the costs associated with 1988 comparable
worth implementation and the city's portion of storm damage
costs;
NOM, THEREFORE, BE IT RESOLVED by the City Council of the
City of Richfield as follows:
1. The budget for the City of Richfield for the year 1988
is hereby approved and adopted with appropriations for
each of the departments to be as follows:
GENERAL FUND
Legislative
Executive
Administrative Services
Community Development
Public Safety
Community Services
$ 391,490
355,360
876,850
225,610
5,248,270
3,840,240
TOTAL GENERAL FUND
REVENUE SHARING FUND
$10,937,820
2. The estimated gross revenue of the City of Richfield from all
sources, including general ad valorem tax levies as here-
inafter set forth for the year 1988, which are more fully
detailed in the City Manager's official copy of the budget,
are hereby found and determined to be as follows:
GENERAL FUND
$10,937,820
REVENUE SHARING FUND
3.
There is hereby levied 'pon all taxable property in the
City of Richfield a dir ct ad valorem tax in the year
1987, payable in 1988 f~r the following purposes and in
the following amounts:
PURPOSE
GENERAL FUND*
AMOUNT
$5,826,898
*Provision has been mad in the General fund for the
payment of the city's ontributory share to Public
Employees' Retirement Association and the Police and
Fireman's Relief Associations. Provision has also been
made in the General Find revenues fora general levy
which includes a debt ~ervice levying in the amount of
X196,191 for Bonds of 977, 1983 and 1985. See
separate resolutions of other bond issues.
4.
A certified copy of th~s resolution shall be transmitted
to the County Auditor.
Passed by the City Council of the City of
Minnesota, this 23 day of November, 197. ,~
i,
ohn Ha~iilto
ATTEST:
chfield,
yor
omas Ferber. C y C er