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Mounds View Charter Commission Date: May 3, 2006 Charter Updates; Category 3 Items; Chapter 7 • Revision— Draft 20060502 Pagel of 3 Objectives: 1) To update and correct language in 7.03 for system of taxation 2) In 7.03 to limit annual tax levy increases and certain fees, but provide a relief using voter referendum approval. 3) To update and correct language in 7.10 for when the City may issue obligation bonds. 1 CHAPTER 7 2 TAXATION AND FINANCES 3 Section 7.01 Council to Control Finances. (no changes) 4 • 5 Section 7.02 Fiscal Year. (no changes) 6 7 Section 7.03. System of Taxation. Subject to the state constitution, and except as forbidden by 8 ' : 6 , .. - - : • : . -. --- . 9 taxation. This authority includes the power by ordinance to asscs3, levy, and collect taxes on all 10 . :'-- - . -- . . . ':- . - .. :-- • • • ; . 11 : • - - . :: -- •- - • ::- -- ' - . : : • 12 •.i ' ion 1 h- i •f u s no i- .I ... - is ...i '•n • _ - .• . -r r .s -. • 13 hi s.rt-r .11 h- .. -r • r.i- - u•n- . .. . is. . .r. ..n to - - 1. . if s - • U.19 . . 14 which are applicable to Home Rule Charter Cities and ci class size which the State designates 15 Mounds View to be a member in the year of the proposed levy or fee adjustment resolution. The 16 i ' r- • . ion • r.i - •n- _'.i .1 ,no .- •n. .r..- . ln• - --. h- I- - •f •- O 17 following,formulas• either the •rior -ar tax levy dollar amount increased bv an inflati•nary index 18 m. '.t •_ .°. • P .1. �'0� .'! ••.-. -h.1 • - . r - of •- 's..u-.i. - .. _ .•• •_ 19 period from June 1 to May 31 of Consumer Price Index for all Urban Consumers in the Minneapolis. 20 St. Paul metropolitan area, as defined b h- U D- Bar me of a•• Bur.0 ofLas or • i s 21 22 . ..i i '.n2 h- i • -n it 1- _ .. •'. n - .-r • .1 .r•.- •All s-_ 23 City in excess of the limit set in Subdivision 1 provided the Council shall: 24 25 A) A ••• . - • . ion .- l.r's h- - - is far .n ...i '•. .1 - .n. .- if is. h- 26 purposes for which such additional tax levy is required. 27 28 B) Hold a public hearing with a published notice in the City's official newspaper. Cit 29 -r .a. if. .il. • - - . - • i - - - ' f• h s- •s -n •_ - r- •l.ti• 30 described in Subdivision 2A 31 32 C) After such public heari g, adopt . an affirmative vote of at least four 4 members of the 33 • . .- i . h r- • _ ion .n._. i h '_ -,.'l 4-r .n... - • . i • -n .s. will •- 34 h- 9.11• . .- is for - -1- • . - . he - -'. .rtn.._' is, -1- i• 35 36 D) •- ,4 4. ion, .x - r-_ •l, is, i -n . .. • . • •- • -r - .-r .. - 4 • Si 37 1,1- •-n - 1- .l .- ' . - - -9 i h- • • .sr .I -, • • 1. .._ - 38 specified in the resolution. 39 40 - . •.' ' . An • -r f-- • . .- i. 1-v r-. -. • in _ _ -• •- ass .- i ' - " • s • City of Mounds View