DOCSOPEN-#745461-v2-Charter Commission Resolution Proposing Charter Amendment

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MU210\4\745461.v2 RESOLUTION NO. ______ CITY OF MOUNDS VIEW CHARTER COMMISSION COUNTY OF RAMSEY STATE OF MINNESOTA RESOLUTION SUBMITTING PROPOSED CHARTER AMENDMENT; REVISING SECTION 7.03 WHEREAS, the City of Mounds View (the “City”) is governed by a home rule charter pursuant to Minnesota Statutes, chapter 410; and WHEREAS, the City’s charter commission (the “Commission”) has the authority under Minnesota Statutes, section 410.12, subdivision 1, to recommend amendments to the City’s charter; and WHEREAS, after discussion and deliberation, the Commission has determined that it is reasonable, appropriate and in the best interests of the citizens of the City of Mounds View that section 7.03 of the City’s home rule charter be amended and it desires to submit such amendment to the City Council to be placed on the ballot at a special election held in accordance with Minnesota Statutes, section 410.12, subdivision 4. NOW THEREFORE BE IT RESOLVED by the Mounds View Charter Commission that the following amendment is submitted to the Mounds View City Council to be placed on the ballot at a special election, all pursuant to and in accordance with Minnesota Statutes, section 410.12, subdivision 1. 1. Amend section 7.03 as follows by adding the double-underlined language and deleting the stricken language as follows: Subdivision 1. The City's annual resolution to levy ad valorem taxes (raising money against real and personal property) shall adhere to the following formula: not exceed the lesser of the following formulas; either the tax levy dollar amount may be increased up to 6.5% over the prior year tax levy dollar amount increased by a maximum of 5%; or CPI (Consumer Price Index) plus 2%, except in the following circumstances: A) The ad valorem tax levy may be increased an additional 2.5%, to a total of 9%, over the prior year tax levy dollar amount by an affirmative vote of four or more members of the Council. B) The ad valorem tax levy may be increased to Consumer Price Index (CPI), if CPI exceeds 6.5%, by an affirmative vote of four members of the City Council. The CPI shall be the 12 month average of the most recently published data for all Urban Consumers in the Minneapolis, St. Paul metropolitan area, as defined by the U.S. Department of Labor, Bureau of Labor Statistics. C) The limits in this subdivision shall be suspended for one year after the decertification of a Tax Increment Financing District.