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HomeMy WebLinkAbout2017-84RESOLUTION NO. 2017 -84 ADOPTING A PROPOSED BUDGET FOR THE YEAR 2018, SETTING THE PROPOSED CITY LEVY, APPROVING THE HRA LEVY, APPROVING A TAX RATE INCREASE, AND ESTABLISHING A BUDGET HEARING DATE FOR PROPERTY TAXES PAYABLE IN 2018. Now, in accordance with all ordinances and regulations of the City of Columbia Heights, the City Council of the City of Columbia Heights makes the following ORDER OF COUNCIL IT IS HEREBY RESOLVED: Section A. The budget for the City of Columbia Heights for the year 2018 is hereby approved and adopted with appropriations for each of the funds listed below. Governmental Funds General Fund Planning & Inspections Economic Development Authority Adm Cable Television Library After School Programs Special Project Fund Public Safety - Other Capital Project Funds Debt Service Funds Proprietary Funds Water Fund 3,309,564 Sewer Fund 2,063,310 Refuse Fund 2,067,228 Storm Sewer Fund 493,375 Liquor Fund 8,943,200 Central Garage 686,885 Building Maintenance 205,500 Information Systems 337,000 Use of Fund Balance 931,676 37,852,726 Revenue Expense 11, 904, 000 469,682 448,242 227,400 952,644 22,000 25,000 2,932,500 1,833,520 Total Including Interfund Transfers 13, 508, 438 469,682 448,242 190,331 952,644 43,562 25,000 1,720,659 2,428,120 Capital Assets 2,868,462 87,500 2,276,539 27,500 2,195, 880 - 606,084 - 8,803,000 - 723,060 45,500 205,448 - 387,575 Debt Principal Paid (Adv.) (70, 000) (196, 712) (76, 288) 185,000 - 60,000 - 37, 852, 726 220,500 (158, 000) Section B. The following sums of money are levied for the current year, collectable in 2018 upon the taxable property in the City of Columbia Heights, for the purposes listed below. Estimated General Fund Levy 9,481,000 Estimated Library Levy 919,244 Estimated EDA Fund Levy 220,100 Total 10,620,344 Section C. The City Council of the City of Columbia Heights hereby approves the Columbia Heights Housing and Redevelopment Authority Tax Levy for the fiscal year 2018 in the amount of $224,592. City of Columbia Heights - Council Resolution 2017 -84 Page 2 BE IT FURTHER RESOLVED: That the public budget hearing is scheduled for December 11, 2017 at approximately 7:00 p.m. in the City Council Chambers. BE IT FURTHER RESOLVED: That the County Auditor is authorized to fix a property tax rate for taxes payable in the year 2018 that is higher than the tax rate calculated for the City of Columbia Heights for levied in 2016 collectable in 2017. BE IT FURTHER RESOLVED: That the City, pursuant to Resolution 2015 -07, will call and redeem on February 1, 2018, all outstanding bond principal and interest payments on General Obligation Bond Series 2008B, and that the County Auditor is authorized to cancel the related Bond Levy in its entirety for taxes payable in 2018 and all subsequent years. BE IT FURTHER RESOLVED: That the City has adequate fund balances and reserves to pay bond principal and interest payments on General Obligation Bond Series 2009A in the amount of $10,000 and that the County Auditor is authorized to cancel $10,000 of the related Bond Levy for taxes payable in 2018, leaving a balance of $227,349 to be levied for taxes payable in 2018 for Series 2009A. BE IT FURTHER RESOLVED: That the City has adequate fund balances and reserves to pay bond principal and interest payments on General Obligation Bond Series 2015A in the amount of $270,000 and that the County Auditor is authorized to cancel $270,000 of the related Bond Levy for taxes payable in 2018, leaving a balance of $214,667 to be levied for taxes payable in 2018 for Series 2015A. BE IT FURTHER RESOLVED: That the City has adequate fund balances and reserves to pay bond principal and interest payments on General Obligation Bond Series 2017A in the amount of $329,989 and that the County Auditor is authorized to cancel $329,989 of the related Bond Levy for taxes payable in 2018, leaving a balance of $0 to be levied for taxes payable in 2018 for Series 2017A. BE IT FURTHER RESOLVED: That the City has adequate fund balances and reserves to pay bond principal and interest payments on General Obligation Bond Series 2017B in the amount of $300,000 and that the County Auditor is authorized to cancel $300,000 of the related Bond Levy for taxes payable in 2018, leaving a balance of $262,553 to be levied for taxes payable in 2018 for Series 2017B. BE IT FURTHER RESOLVED: That the Finance Director /Treasurer of the City of Columbia Heights is hereby instructed to transmit a certified copy of this resolution to the County Auditor of Anoka County, Minnesota. Passed this 11th day of September, 2017 Offered by: Buesgens Seconded by: Novitsky Roll Call. Ayes; Schmitt, Buesgens, Williams and Novitsky A AA I g 4� Donna Schmitt, Mayor Attest: f A 0ja 6A�A Katie Bruno, City Clerk /Council Secretary