City Council Resolution 2015-74CITY OF MONTICELLO
RESOLUTION NO 2015 -074
ADOPTING THE 2016 PRELIMINARY TAX LEVY RESOLUTION ESTABLISHING
THE 2016 PROPERTY 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 all operations and
the debt service for the fiscal year commencing January 1, 2016; 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 RESOLVED BY THE COUNCIL OF THE CITY OF
MONTICELLO that there be and hereby is a preliminary levy for the fiscal year commencing
January 1, 2016, 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 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 tiie levies for said indebtedness heretofore made to be
levied for the year 2015 for collection in the year 2016 as follows:
Debt Service Levies
Bond
Resolution
PRELIMINARY
TAX LEVY
REVENUE
G.O. Bonds, Series 2007A
$ 300,506
General Fund
$
65177,000
Community Center
$
364,000
OTHER FUNDS
220,332
40,000
Debt Service
$
2,084,000
Capital Projects - Core Streets Debt
$
300,000
TOTAL TAX LEVY
$
8,925,000
BE IT FURTHER RESOLVED, that 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 tiie levies for said indebtedness heretofore made to be
levied for the year 2015 for collection in the year 2016 as follows:
Debt Service Levies
Bond
Resolution
2016
Levy
Levy
Added Canceled
G.O. Bonds, Series 2007A
$ 300,506
$ 420,000
$ 119,494
G.O. Bonds, Series 2008B
1,048,602
500,000
548,602
G.O. Bonds, Series 2010A
220,332
40,000
180,332
G.O. Bonds, Series 2011A
175,522
330,000
154,478
G.O. Bonds, Series 2013A
69,048
-
69,048
G.O. Bonds, Series 2014A
609,915
$544,000
65,915
G.O. Bonds, Series 2015B
- f
250,000
250,000
The above resolution was introduced by Councilmember Hilgart , was duly seconded
by Councilmember Gabler , with the following voting in favor thereof 3-2_.
The following voting in opposition: Pc ault and Posusta
The City Administrator 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 28th day of September, 2015.
CITY OF MONTICELLO
Brian Stumpf—,-Mayor-
ATTEST:
Jeff O'N tl) tI* Administrator