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CITY OF ST ANTHONY 40 <br />RESOLUTION No. 10-086 <br />A RESOLUTION SETTING THE CITY OF ST. ANTHONY'S <br />2011 GENERAL OPERATING <br />BUDGET AND PROPERTY TAX LEVY. <br />WHEREAS, Minnesota State Law requires the City of St. Anthony provide Hennepin and Ramsey <br />Counties with a 2011 certified operating budget and property tax levy; and <br />WHEREAS, the City Council discussed key financial issues and budgeting goals at the January, 2010, goal setting <br />session, held a Public Hearing on April 27, 2010, reviewed the 2011 operating budget and tax levy at <br />their March 1st, 2010, May 3rd, 2010, August 2nd, 2010 and October 4th, 2010, work sessions; and <br />WHEREAS, the City Council further reviewed the 2011 operating budget, property tax levy and the levy limits <br />established by the Minnesota Department of Revenue at its August 24, 2010, council meeting; and <br />WHEREAS, the Road Improvement Levy of $1,368,491.86 is reduced by the transfer of Chandler Tax Increment <br />totaling $68,808.82 into the road improvement fund; and <br />WHEREAS, The City Council held the required budget meeting on December 14, 2010, 7:00 P.M. in its Council <br />Chambers, to discuss the 2011 operating budget and property tax levy with the residents of St. Anthony; <br />and <br />WHEREAS, the information required for the City Council to determine a definitive 2011 property tax levy has been <br />collected. <br />NOW, THEREFORE, BE IT RESOLVED that: <br />1) The collectible 2011 property tax levy is <br />General Fund Property Tax Levy $2,945,511.00 <br />Road Improvement Levy $1,299,683.04 <br />Lease Revenue Bonds/Public Facilities $ 406,676.00 <br />Housing & Redevelopment Authority Levy $ 110,500.00 <br />Tax Abatement Levy - Central/Emerald Park Bonds $ 145,065.82 <br />PERA Rate Increase Levy $ 7,500.00 <br />Total 2011 Tax Levy $4,914,935.86 <br />2) The 2011 General Fund Budget totals $5,478,000. <br />3) The City Council approves the reduction of the 2011 Road Improvement Levy for the 2009A G.O. <br />hnprovement Bonds by transferring $68,808.82 from the Chandler TIF Fund #321 into the 2009A Road <br />Improvement Bond Fund #512. <br />Adopted this 14th day of December, 2010 <br />ATTEST: <br />City Clerk <br />Review for Administration: <br />Mayor <br />City Manager <br />