06-03-2010 Charter Packet - Laserfiche WebLink

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1 West St. Paul Page 3 of 5 provide for the regular payment without specific individual authorization by the Council of salaries and wages of regular employees, laborers, and fixed charges which have previously duly and regularly incurred. Subd. 2. Limitations on Property Tax Levy. The total levy in property taxes for General Fund purposes shall be limited as follows: (a) For taxes payable in the calendar year 2007, the General Fund property tax levy plus the state - certified Local Government Aid (LGA) from the State of Minnesota, shall not exceed $360 per capita for each resident of the City. (b) For each year thereafter, the $360 per capita limit shall increase each year based on the Implicit Price Deflator (IPD) as published by the Bureau of Economic Analysis as of March 31st of the year prior to the year in which the taxes will be payable. The IPD increase will be applied to the per capita limit from the previous year to determine the limit of the total combined amount of taxes and LGA. From this total combined amount, the state -certified LGA far the next year shall be deducted, resulting in the tax levy limit for the General Fund for the next year. To determine the population, the Finance Director shall use the United States decennia census figure from the most recent U.S. Bureau of Census, unless a more recent estimate is available from the demographer's office of the Metropolitan Council. Section 7.04 thru Section 7.14 - Ordinance 97-14 Section 7.10 Subd. 1 — Ordinance 99-25 -26 �.•, Section 7.10. Fund to be Kept. There shall be maintained in the City treasury the following funds: Subd. 1. A General Fund. for the payment of the general expenses of operating the City. Into this fund shall be paid all money not provided herein or by statute to be paid into any other fund, including, by way of illustration but not of limitation, monies received as county and state -aids for maintenance of roads and streets, all monies received from taxes levied on property for the support of this fund, and all collections from any new taxes hereafter established by the Council or by apportionment of any state, county, or federal taxes now or hereafter made available by this Charter for the general fund. Any surplus in this fund not needed immediately for the purpose thereof may be invested by the City Treasurer into the depositories and the investment funds designated by the Council, as authorized by state statute for the investment of such funds; any such investments may be liquidated at any time. Subd. 2. A Debt Service Fund, into which shall be paid all receipts from taxes or other sources for the payment of principal and interest of all obligations issued by the City except bonds issued on account of any local improvements to be financed wholly or partly by special assessments and bonds issued on account of any municipally owned utility. Out of this fund shall be paid the principal and interest on such obligations when due. Any surplus in such fund not needed immediately for debt service maybe invested under the direction of the Council in such securities as are authorized by statute for the investment of such funds; and such funds may be liquidated at any time. To the extent required by law, a separate account in the debt service fund shall be maintained for each issue of City obligations. Subd. 3. A Bond Fund, into which shall be paid and disbursed the proceeds of all bonds issued by the City except bonds issued on account of an local improvements to be financed wholly or partly by special assessments and bonds issued on account of any municipally owned utility. A separate bond account shall be kept for each issue of such bonds. Subd. 4. A Special Assessment Fund, which shall be used to finance local improvements to be paid for, in whole or in part, from special assessments against benefited property. There shall be paid into this ,may fund: (1) collections of special assessments, with interest and penalties levied against the benefited http://weststpaul.govofice.com/index.asp?Type=B BASIC&SEC={A9335388-5ED5-404... 5/27/2010