CC MINUTES 07132021 - Laserfiche WebLink

Home Browse Search

City Council Regular Meeting Minutes July 13, 2021 Page 2 Motion by Councilmember Webster, seconded by Councilmember Jenson, to approve the Consent Agenda items. Motion carried 5-0. IV. PUBLIC HEARING. 8 A. Resolution 21-058, a Resolution Approving the Proposed 2022 Debt Levy and the Phase 9 II Debt Levy Program. 10 11 Finance Director Shelly Rueckert reviewed a power point presentation regarding the Debt Levy. 12 Ms. Rueckert stated it is common practice for local governments to use tax exempt bond 13 financing to provide funds for major projects such as Street and Utility Reconstruction; Park 14 Improvements, Trails and Sidewalks; Building Improvements or Replacement; and Major 15 Equipment Purchases (Fire Trucks). Annual street improvements are the main driver of the debt 16 levy. The street improvement sources and debt service funds were reviewed. Ms. Rueckert stated 17 the Debt Levy Reduction Program (Peak to Plateau) began in order to stabilize the annual 18 increase in levies. This program has served to lower annual levy impact of street reconstruction 19 by $2,675,000 over the last 8 years. Peak to plateau process was scheduled to complete its "Peak 20 elimination" step in 2023 but that was accomplished as part of the 2021 budget. The City is two 21 years ahead of schedule. 22 23 Ms. Rueckert provided the Assessment Maps for the street improvements and explained Phase I 24 and Phase II of the Debt Levy Planning. The Phase II Street Improvements for 2022 were 25 reviewed. The Debt Levy will remain at $2,487,181 for levy years 2022 and 2023. City Council 26 is asked to approve the proposed 2022 Debt Levy of $2,487,181 and approval of the Phase II 27 Debt Levy Program. 28 29 Mayor Stille stated this has been discussed at a work -session by the City Council. This is a 30 milestone where the debt levy does not continually increase. The City will be contributing cash 31 to some of the projects. Previous Council's plan was to not let the infrastructure deteriorate. 32 Mayor Stille congratulated Ms. Rueckert on the peak to plateau plan. 33 34 Mayor Stille opened the public hearing at 7:17 p.m. 35 36 Mayor Stille closed the public hearing at 7:18 p.m. 37 38 Motion by Councilmember Jenson, seconded by Councilmember Randle, to approve Resolution 39 21-058; a Resolution Approving the Proposed 2022 Debt Levy and the Phase II Debt Levy 40 Program for the City of St. Anthony Village. 41 42 Motion carried 5-0. 43 44 V. REPORTS FROM COMMISSION AND STAFF — NONE. 45 46 VI. GENERAL BUSINESS OF COUNCIL.