City Council Resolution 2014-123CITY OF MONTICELLO
WRIGHT COUNTY, MINNESOTA
RESOLUTION NO. 2014-123
RESOLUTION ESTABLISHING THE 2015 PROPERTY TAX LEVY AND
AUTHORIZING CANCELLATION OF CERTAIN DEFERRED TAX LEVIES
WHEREAS, the Finance Director has prepared and submitted to the City Council a budget setting
forth therein his estimated needs of the City of Monticello for operations, capital improvements
and debt service for the fiscal year commencing January 1, 2015; and
WHEREAS, the City Council has reviewed the same and has made such changes therein as appear
to be in the best interest of the City of Monticello;
NOW THEREFORE, BE IT RESOLVED by the City Council of the City of Monticello as
follows:
SECTION I. There is hereby levied upon all taxable property in the City of Monticello
a direct ad valorem tax collectible in 2015 for the following purposes and in the following
amounts:
REVENUE
NET CERTIFIED LEVY
General
$
5,882,000
Community Center
$
1,363,000
DEBT SERVICE FUNDS
G.O. Bonds, Series 2007A
$
420,000
G.O. Bonds, Series 2008B
$
500,000
G.O. Bonds, Series 2010A
$
403000
G.O. Bonds, Series 2011A
$
330,000
G.O. Bonds, Series 2013A
$
-
TOTAL TAX LEVY
$
8,535,000
SECTION II. It is hereby determined that sufficient monies are now on hand, or will be
when needed, for the payment of principal and interest to come due during the year 2015 for
certain bond issues outstanding of the City of Monticello.
SECTION III. The Treasurer - Auditor of Wright County is hereby authorized and
directed, pursuant to the provisions of Section 475.61, Minnesota Statutes Annotated, to cancel or
otherwise amend the levies for said indebtedness heretofore made to be levied for the year 2014
for collection in the year 2015 as follows:
SECTION IV. The City Clerk is hereby instructed to transmit a certified copy of this
resolution to the Treasurer - Auditor of Wright County, Minnesota.
ADOPTED BY the Monticello City Council this 8t" day of December, 2014.
CITY OF MONTICELLO
Clint Herbst, Mayor
ATTEST:
Jeff: Yl, City Administrator
Bond
2Q15
Levy.
Debt Service LeUes
Resolution
Lev
Added Canceled
G.O. Bonds, Series 2007A
$ 366,236
$
420,000
$ 53,764
G.O. Bonds, Series 2008B
1,048,834
500,000
548,834
G.O. Bonds, Series 2010A
219,193
40,000
179,193
G.O. Bonds, Series 2011A
449,456
330,000
119,456
G.O. Bonds, Series 2013A
69,048
-
69,048
Total
$ 2,152,767
$
1,290,000
$ 862,767
SECTION IV. The City Clerk is hereby instructed to transmit a certified copy of this
resolution to the Treasurer - Auditor of Wright County, Minnesota.
ADOPTED BY the Monticello City Council this 8t" day of December, 2014.
CITY OF MONTICELLO
Clint Herbst, Mayor
ATTEST:
Jeff: Yl, City Administrator
The above resolution was introduced by Councilmember Brian Stumpf and was duly seconded by
Councilmember Glen Posusta.
The following voting in favor: Clint Herbst, Tom Perrault, Glen Posusta, Brian Stumpf
The following voted in opposition: None
The following was absent: Lloyd Hilgart
CERTIFICATION
STATE OF MINNESOTA
COUNTY OF WRIGHT
I hereby certify that the foregoing is a true and correct copy of a resolution duly passed,
adopted and approved by the Monticello City Council at their scheduled meeting on December 8,
2014, and recorded in minutes of said meeting.
p
CaiVerine M. Shum , Deputy Clerk
Notary Public: zV/1
Atl
Date:
VICKI JAN LEERHOFF
Notary Public - Minnesota
m taa q' My Commission Expires Jan 31, 2016