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CITY OF ST ANTHONY VILLAGE <br />RESOLUTION No. 10-060 35 <br />A RESOLUTION SETTING THE CITY OF ST. ANTHONY VILLAGE <br />PROPOSED 2011 TAX LEVY AND BUDGET. <br />WHEREAS, Minnesota State Law requires the City of St. Anthony Village provide Hennepin and Ramsey <br />Counties with a proposed 2011 certified property tax levy and budget; and <br />WHEREAS, the City Council discussed key financial issues and budgeting goals at the January, 2010, goal <br />setting session, held a Public Hearing on April 27, 2010, reviewed the 2011 property tax levy, <br />budget and the capital equipment needs at their March 1st, 2010, May 3rd, 2010 and August <br />2nd, 2010, work sessions; and <br />WHEREAS, the City Council further reviewed the 2011 property tax levy, operating budget and the levy <br />limits established by the Minnesota Department of Revenue at the August 24, 2010, council <br />meeting; and <br />WHEREAS, the Road Improvement Levy of $1,368,491.86 is reduced by the transfer of Chandler Tax <br />Increment totaling $68,808.82 into the road improvement bond fund; and <br />WHEREAS, the proposed tax levy and budget is contingent upon any revisions allowed if the current law is <br />modified; and <br />WHEREAS, the City Council will determine a definitive property tax levy and budget at the Tuesday, <br />December 14, 2010 budget meeting at 7:00 p.m. with public input. <br />NOW, THEREFORE, BE IT RESOLVED that: <br />1) The collectible 2011 proposed property tax levy is: <br />General Fund Property Tax Levy <br />$2,945,511.00 <br />Road Improvement Levy <br />$1,299,683.04 <br />Lease Revenue Bonds <br />$ 406,676.00 <br />Housing & Redevelopment Authority Levy <br />$ 110,500.00 <br />Tax Abatement Levy <br />$ 145,065.82 <br />PERA Rate Increase Levy <br />$ 7,500.00 <br />Total 2011 Proposed Tax Levy <br />$4,914,935.86 <br />2) The 2011 General Fund Proposed Budget totals $5,478,000. <br />3) The City Council approves the reduction of the 2011 Road Improvement Levy for the 2009A <br />G.O. Improvement Bonds by transferring $68,808.82 from the Chandler TIP Fund #321 into the <br />2009A Road Improvement Bond Fund II512. <br />Adopted this 14th clay of September, 2010 <br />-- Mayor --..----- <br />ATTEST: <br />City Clerk <br />Reviewed for Administration: <br />City Manager <br />