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<br />Debt Service Levy: <br />The City issued the 2014A Bonds for building the Public Works facility. These bonds contain a levy <br />component. Since the City has been using the Water & Sewer Capital Replacement Fund to pay these <br />bonds and not the levy. a motion must be passed each year to waive this levy. This motion is contained <br />in Resolution 2020-12-163 that approves the Tax Levy. <br /> <br />Bond <br />Issue <br />Original <br />Principal <br />Date <br />Issued <br />2021 Levy Portion <br />per Bond Register <br />Reduction in <br />Levy <br />2021 Certified <br />Debt Levy <br />2014A <br />Bonds <br />$3,400,000 03-11-14 $181,387.50 ($181,387.50) $0 <br /> <br />STAFF RECOMMENDATION: <br />1. Conduct the public budget hearing related to the 2021 budget. <br /> <br />2. Adopt Resolution 2020-12-162, adopting a 2021 Budget in the amount of $12,198,532. <br /> <br />3. Adopt Resolution 2020-12-163, approving the 2020 Tax Levy, Collectible in 2021 in the <br />amount of $3,582,330 <br />Levy Component Final Proposed <br />2021 Levy <br />General Levy <br /> General Fund $3,300,130 <br /> Fire Equipment Fund 160,000 <br /> Infrastructure Fund 122,200 <br />Subtotal General Levy $3,582,330 <br />Debt Levy $0 <br />Total Gross Levy $3,582,330 <br /> <br />4. Adopt Motion to approve the 2021 salary schedule (Resolution 2020-12-164).