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City Council Resolution 2016-92CITY OF MONTICELLO WRIGHT COUNTY, MINNESOTA RESOLUTION NO. 2016-092 RESOLUTION ESTABLISHING THE 2017 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, 2017; 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 RESOL VED by the City Council of the City of Monticello as follows: SECTION 1. There is hereby levied upon all taxable property in the City of Monticello a direct ad valorem tax collectible in 2017 for the following purposes and in the following amounts: REVENUE NETCERTIFIED LE!'Y General $ 6,291,000 Community Center $ 37200 Capital Projects - Future Debt $ 50,000 DEBT SERVICE FUNDS G.O. Bonds, Series 2007A $ 610,000 G.O. Bonds, Series 2008B $ 500,000 G.O. Bonds, Series 2010A $ 4000 G.O. Bonds, Series 201 lA $ 139,783 G.O. Bonds, Series 2013A $ - G.O. Bonds, Series 2014A $ 536,929 G.O. Bonds, Series 2015B $ 195,288 G.O. Bonds, Series 2016A $ 415,000 TOTAL TAX LEVY $ 9.150.000 SECTION II. There is hereby levied $280,000 upon all taxable real property within the City of Monticello a special benefit tax, collectible in 2017, under Section 469.033, subd. 6, of the HRA Act (HRA levy): SECTION III. 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 2017 for certain bond issues outstanding of the City of Monticello. SECTION III. 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 2016 for collection in the year 2017 as follows: Debt Service Levies Bond Resolution 2017 Levy Levy Added Canceled` G.O. Bonds, Series 2007A $ 299,456 $ 610,000 $ 310,544 G.O. Bonds, Series 2008B 1,049,265 500,000 549,265 G.O. Bonds, Series 2010A 215,135 40,000 175,135 G.O. Bonds, Series 2011A 186,990 139,783 (47,207 G.O. Bonds, Series 2013A 68,513 - 68,513 G.O. Bonds, Series 2014A 60502 536,929 68,733 G.O. Bonds, Series 2015B 195,288 195,288 - G.O. Bonds, Series 2016A 415,000 415,000 Total $ 2,620,309 $ 2,437,000 $ 183,309 SECTION IV. The City Clerk is hereby instructed to transmit a certified copy of this resolution to the Auditor - Treasurer of Wright County, Minnesota. ADOPTED BY the Monticello City Council this 12th day of December, 2016. CITY OF MONTICELLO Brian Stumpf, May - ATTEST: Jeff O'Neil , City Administrator The above resolution was introduced by Councilmember HI Q,t'f'-- and was duly seconded by Councilmembe The following voting in favor: all er, 41 r+ , � )Lt S-f k7 The following voted in opposition: Perrau.,4— CERTIFICATIO 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 12, 2016, and recorded in minutes of said meeting. - !�� C-5'111e� Jef eill, City Administrator 4 Notary Public: Z�27� Date: AU-M/'W ' VICKI JAN LEERHOFF �= NOTARY PUBLIC - MINNESOTA My Commission Expires 01/31/2021