City Council Resolution 2020-62CITY OF MONTICELLO
RESOLUTION NO 2020-62
RESOLUTION ADOPTING THE 2021 PRELIMINARY TAX LEVY AND
AUTHORIZING CANCELLATION OF CERTAIN DEFERRED TAX LEVIES
WHEREAS, the Finance Director has prepared and submitted to the City Council a preliminary
budget setting forth therein his estimated needs of the City of Monticello for operations and debt
service for the fiscal year commencing January 1, 2021; 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; and
NOW, THEREFORE, BE IT RESOL VED BY THE COUNCIL OF THE CITY OF
MONTICELLO that there be and hereby is a preliminary levy for the fiscal year commencing
January 1, 2021, and the following sums for the respective purposes indicated therein upon the
taxable property of the City of Monticello, to wit:
BE IT FURTHER RESOLVED, that the Auditor/Treasurer 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 in the year 2020 for collection in the year 2021 as follows:
Debt Service Levies
Bond
Resolution
PRELIMINARY
TAX LEVY
REVENUE
G.O. Bonds, Series 2011A
175,948
General Fund
$
7,169,000
Community Center
$
485,000
OTHER FUNDS
201,115
201,115
Debt Service
$
2,831,479
Capital Pro ects - Future Debt
$
578,221
TOTAL TAX LEVY
$
11,063,700
BE IT FURTHER RESOLVED, that the Auditor/Treasurer 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 in the year 2020 for collection in the year 2021 as follows:
Debt Service Levies
Bond
Resolution
2021
Levy
Levy
Added
(Canceled)
G.O. Bonds, Series 2011A
175,948
-
(175,948)
G.O. Bonds, Series 2014A
607,626
513,570
(94,056)
G.O. Bonds, Series 2015B
201,115
201,115
-
G.O. Bonds, Series 2016A
406,089
406,089
-
G.O. Bonds, Series 2017A
250,097
250,097
-
G.O. Bonds, Series 2017A - Abatement
180,000
180,000
-
G.O. Bonds, Series 2018A
158,077
138,077
(20,000)
G.O. Bonds, Series 2018A - Abatement
310,000
310,000
G.O. Bonds, Series 2019A
659,945
639,945
(20,000)
G.O. Bonds, Series 2019A - Abatement
75,000
75,000
G.O. Bonds, Series 2020A
117,586
117,586
-
Total
$ 3,141,483
$ 2,831,479
$ (310,004
The above resolution was introduced by Councilmember &a.61e r' , was duly seconded
by Councilmember F'a i r , with the following voting in favor thereof. 'f —.
via1SGy1� ;:Rir, (Paj'jar ' t4i4 jo)aty+
The following voting in opposition: 1 _St.,,,,,,ywa�
The Finance Director is hereby instructed to transmit a certified copy of this resolution to the
County Auditor of Wright County, Minnesota.
ADOPTED BY the Monticello City Council this 24th day of August, 2020.
ATTEST:
I J& 6—
r
J nnifer Schreiber, City Clerk
CITY OF MONTICELLO
Brian Stumpf, r
6