12-18-96 Council Minutes - Laserfiche WebLink

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MINUTES CITY COUNCIL DECEMBER 18~ 1996 Morelan noted that the $256,000 is the maximum amount the City could include in the CIP Budget during those years without increasing the levy. The City Administrator pointed out that ultimately the City will have to fund capital improvements. During the years 2000 and 2001, the City will need a CIP levy, the issue is what the amount will be. There will be a lot more discussion on this issue in preparation of the 2000 and 2001 Budgets. There was no one from the general public present wishing to comment on the 1997 Budget. Upon motion by LaValle, seconded by Fahey, the public hearing was closed. The City Administrator reported that the City certified a preliminary levy increase to the County in September of 3.5%. As a result of budget workshops, the increase was at 2.30% at the time of the Truth In Taxation Hearing. Based on additional revenue from the pawn shop license fee, lower 1997 insurance renewals, and some lower benefit costs associated with recent hirings, the 1997 Budget results in a 1.91% net levy increase. Morelan pointed out that the current rate of inflation is at approximately 3.2%. Mr. Morelan introduced the following resolution and moved its adoption: RESOLUTION NO. 96-12-306 - ADOPTING THE 1997 BUDGET AND TAX LEVY AS PRESENTED BY CITY STAFF IN THE AMOUNT OF $1,481,136.00 The foregoing resolution was duly seconded by LaValle. Ayes (5) Morelan, LaValle, Pedersen, Scalze, Fahey. Nays (0). Resolution declared adopted. Mr. LaValle introduced the following resolution and moved its adoption: RESOLUTION NO. 96-12-307 - APPROVING THE 1997 BONDED INDEBTEDNESS TAX LEVY REDUCTIONS AS RECOMMENDED BY CITY STAFF The foregoing resolution was duly seconded by Pedersen. Ayes (5) LaValle, Pedersen, Morelan, Scalze, Fahey. Nays (0). Resolution declared adopted. 14