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MINI)'1'F.S <br />City Counci.l <br />,July 17, 19F34 <br />and sewer enterprise Tunds and conti.nue to adopt user rates at levels <br />adequate to f.inance the various expenses incurred. <br />'~Review City purchasin~; procedures to assure compliance with <br />Minnesota Statutes 471.345. <br />`Revie~v internal control procedures i.n conjunction w.ith the proposed <br />acquisition of an in-house computer system and take action to assure <br />an etficient conversion process. <br />The next report pr.esented to Che Council was Financing Loca1 Government <br />in the 19E30's. <br />Mr. Voto reported that this report would define the State Uudget <br />sit:uation and the relat:i.onship between State and l.ocal governmentse <br />The report will also shoo~ how the State resolved its budget problem <br />and try to f:orecast what citi.es can expect in the future. <br />Mr. Voto reported that one of Che things the <br />its attitude of who financed what. This was <br />Districts pick up a greater portion of their <br />taxes< In 1.982 School Districts' tax levies <br />by two years of 11% increases. During the f. <br />property taxes increased 71%. <br />State did was change <br />done by having School <br />Lunding through property <br />increased by 29% followed <br />i.ve year peri.od ending 1984, <br />Plr. Hanson asked what impact decreasing ~roperty values wi11 have. <br />Mr. Voto felt that the ne~aspaper articles on decr.easi.ng property <br />values were not true. Voto stated that he beli.eves there will be <br />more valuation decreases, but these decreases are because prices <br />ar.e inflated. Voto felt that the decreases wi11 be especially seen <br />in commercial propertiese <br />Mr. Porsberg commented on Che valuations i.n the City. Mrs. Scalze <br />commented that f.or years properti.es in the C:ity caere undervaluated. <br />Voto reported that the major portion oE the City's debt is tied up <br />in special assessment debt. In 198$ the Ci.ty's levies will begin to <br />decrease. <br />Mr. t~orsberg r.eminded the. Council thaC the City wi.11 have to determi.ne <br />how to finance the repair or replacement of. some Ci.ty streets. Mrse <br />Scalze suggeste<1 that the huditor could report on how the City could <br />f.i.nance something lilce this and what other cities ar.e doi.n~, <br />Voto replied that suburban cities usually use the special assessment <br />process for assessin~; the cost of street replacement, If. the City <br />does not assess the cost, the only other vehicle the City coul.d use <br />would be a referrendum. Pahey commented that i.n that case~ the City <br />will have to assess the cost. <br />Page -5- <br />