HomeMy WebLinkAbout1993 08-16 CCP Joint Work Session with Financial Commission r 5 I(
CITY COUNCIL AGENDA
CITY OF BROOKLYN CENTER
AUGUST 16, 1993
7 p.m.
COUNCIL WORK SESSION
JOINT MEETING WITH FINANCIAL COMMISSION
F77
CTS' Y HALL "COUNCIL. CH�BERS
1. Call to Order
2. Roll Call
3. Appointment of Brooklyn Boulevard Task Force Membership
4. Presentation of 1994 Preliminary Budget
5. Adjournment
CITY OF BROOKLYN CENTER Council Meeting Date ARgRj 16, 1993
Agenda Item Number
REQUEST FOR COUNCIL CONSIDERATION
ITEM DESCRUMON:
Discussion Item: Appointment of Brooklyn Boulevard Task Force Membership
DEPT. APP
Brad ffman, Director of Community Development
MANAGER'S REVIEW/RECONMENDATION:
No comments to supplement this report Comments below /attached
SUNDIARY EXPLANATION: (supplemental sheets attached X )
The following is a list of the individuals who have expressed interest in being art of the Brooklyn
XP g P
Boulevard task force:
Planning Commission Members
Dianne Reem, 6225 Chowen Avenue North, 561 -2690
Mark Holmes, 7207 Grimes Avenue North, 560 -3036
Bob Mickelson, 4006 Winchester Lane, 537 -0813
At Large
Bill Bartram, Brookdale Chrysler, 535 -5200
Dave Nelson Uhde N 1 4-
eson 42 8559
Frank Slawson, Marquette Bank, 569 -1454
Janis Blumentals, Chamber of Commerce, 561 -5757
Dr. Duane Orn, Northport Medical, 533 -8666
Lee Cook, Jr., 5341 Brooklyn Boulevard, 537 -1168
Dr. David Monson, 6142 Brooklyn Boulevard, 566 -9330
Phyllis Owens, 6520 Brooklyn Boulevard, 561 -6520
Joan Gilbaugh, 5717 Brooklyn Boulevard, 535 -2235
Don Rosen, 6850 Brooklyn Boulevard, 561 -4320
Marty Iten, Iten Chevrolet, 561 -9220
Perry Watson, Brookdale Dodge, 560 -8000
These individuals have also expressed interest in serving on the Brooklyn Boulevard Task Force:
Charles Gustafson, 3801 66th Avenue North, 561 -8565
Lee Anderson, 5344 North Lilac Drive, 588 -8758
Ron Christensen, 6101 June Avenue North, 533 -1930
Council will be making appointments to this task force on Monday, August 16th.
i
PROPERTY TAX L%IPACT 1994 PRELE"INARY BUDGET
($73, 000 HOMESTEAD)
PROPERTY TAX INCREASE DUE TO:
1. Budget Growth $ 1.65 (.9 %)
2. Tax Base Decline 12.65 (6.9 %)
3. Other Revenue Losses 18.33 (10.0%
Total City Share Property Tax Increase 132.63 17.8 0
1. BUDGET GROWTH FACTORS
■ major increase in Capital Outlay (replacement equipment, delayed equipment
purchases from previous years, and purchases of equipment for productivity
improvement)
■ approximately 3% inflation on City purchases
■ continuing 6.5% sales tax on City purchases
■ Operating Budget (labor, materials, and contracts - no capital outlay) is up
$112,878 (1.11 %) from 1993 level $10,178,000 to Preliminary 1994 level
$10,291,000
2. TAX BASE DECLINE FACTORS
■ Commercial /Industrial and Apartment values have declined shifting taxes to
residential homesteads
■ classification rate changes by legislature reduced some Commercial /Industrial
and nonhomestead residential tax capacity
3. T
O HER REVENUE LOSS FACTORS
■ Fines and Forfeitures
■ Business Licenses
■ Lodging Tax
■ Recreation Fees
■ Estimated 2% property tax uncollectible
MEMORANDUM
TO: Mayor Todd Paulson
Councilmember Celia Scott
Councilmember Dave Rosene
Councilmember Barb Kalligher
Councilmember Kristen Mann
FROM: Gerald G. Splinter, City Manager 41
DATE: August 11, 1993
SUBJECT: 1994 PRELIMINARY BUDGET
Attached please find a draft of the 1994 preliminary budget. On Monday
evening, August 16, 1993, you will be meeting in a joint work session with the
Financial Commission to review the 1994 preliminary budget.
It will be a difficult budget year as we have a number of factors coming in to
play which will reduce our nontax revenues and magnify any property tax
impacts. On Monday evening we will have a presentation and materials which
will provide additional information.
The Council should remember, as in previous years, our revenue and tax impact
estimates are preliminary at this time. Additional data from the state and county
will be forthcoming by the middle to the end of September which will allow us
to finalize these estimates.
Attachment
CITY OF BROOKLYN CENTER Council Meeting Date
Agenda Item Number
REQUEST FOR COUNCIL CONSIDERATION
ITEM DESCRIPTION:
1994 CITY MANAGER'S PRELIMINARY BUDGET AND PROPERTY TAX LEVY REPORT
DEPT. APPROVAL: PRELImINARY
Gerald G. Splinter, City Manager
MANAGERS REVIEW/RECONEVIENDATION.
No comments to supplement this report Comments below /attached
SUMMARY EXPLANATION: (supplemental sheets attached )
Attached is a summary of the 1994 City Manager's Preliminary Budget. This preliminary budget
is designed to give the City Council sufficient information to approve a preliminary 1994 property
tax levy and budget total by the September 15, 1993, certification deadline established by State law.
Counties are responsible under the same law and regulation for mailing parcel specific tax notices
notifying property owners of the required hearings to be held by cities, schools, counties, and other
taxing districts between November 15 and December 20 of each year. Under State law, cities must
finalize their property tax levies and budgets prior to December 30, 1993.
The 1994 preliminary budget is being submitted based on preliminary estimates of revenues and
expenditures. Please understand these are preliminary figures which must be finalized in October
and November and, as in past years, are subject to considerable modification and change. The
1994 preliminary maximum budget levy of $5,845,867 would increase taxes on a $73,000 Brooklyn
Center home by $32.63 per year or $2.72 per month. During October and November we will have
more reliable figures on which to finalize the 1994 proposed budget. As in previous years, the City
Council should understand whatever you set the preliminary tax levy at for the 1994 budget, it
cannot be exceeded at a later time. You can levy less than what you establish in the preliminary
1994 levy but you cannot increase it. While you certify the 1994 preliminary proposed budget
amount in the same fashion as the levy, the law allows you to increase the total budget amount but
not the property tax levy amount.
There are a number of significant factors which contribute to the complexity of preparing the 1994
preliminary budget and levy report and they are as follows:
1. The 1994 preliminary budget calls for an increase in expenditures over 1993 of $414,367
(3.91 %). A major increase in the 1994 preliminary budget has occurred due to increased
capital outlay requests from all departments. The increased capital outlay amounts to
$279,410 of the total budget increase of $414,367. The budget includes the addition of two
police officers financed by saving from changing to the Hennepin County dispatch system.
The two proposed officers would start employment upon actual transfer of the dispatch
function during 1994.
2. The 1994 preliminary budget reflects the auditor's recommendation of establishing a central
garage internal service fund.
3. Because there will be a general election in 1994, and there was none in 1993, the elections
budget increases significantly ($20,400).
4. Last year the City Council established a program of phasing out the certificates of
indebtedness sold in previous years. The 1994 preliminary budget calls for the use of
surplus debt service fund money to pay off all existing outstanding certificates of
indebtedness. This reduced the 1994 preliminary levy.
5. This year we propose to initiate the use of an estimated 2% uncollectible allowance for
property tax revenues. This is intended to finance any anticipated shortfall in property tax
collections, which we estimate to be $114,946. This proposal increases the 1994 preliminary
levy.
6. Lodging tax revenues have decreased. This is largely due to the loss in revenue from the
Park Inn and this amounts to a loss of $40,000 in revenue.
7. Liquor licenses are projected at $13,200 less than 1994 again due to the fact that Park Inn
has not renewed its license and we question whether they will renew in 1994.
8. In 1993 we estimated recreational revenues, largely due to water slide revenue, at too high
of a level. We are adjusting those revenues down $131,003 and also reducing expenditures
a significant amount as our expenditures in 1993 for the water slide were also estimated at
too high a level.
9. Fines and forfeitures are declining 28% from the 1993 estimate. This is a continuation of
a four -year trend towards lower court fines. Revenues have been stable at the new
projected rate for about 18 months and so we may have hit the bottom of this trend, but it
does represent a $56,000 decrease from 1993.
One of the additional complicating factors in the 1994 budget will be the tax impact on homestead
single - family homes will be magnified by the fact that our commercial and industrial tax base has
shrunk from its 1993 levels. Because commercial and industrial properties pay a significantly higher
property tax rate as a percent of value, when their value drops, those taxes shift to other properties
and in this case largely to single- family homestead properties. Our assessor points out the 3.91%
increase in our overall budget will result in an increase of 17.83% in the tax on a $73,000 Brooklyn
Center home. A significant portion of this increase is due to a shift in taxes from commercial and
industrial to homestead properties because of the reduced value and lowered classification rates
of commercial and industrial properties in Brooklyn Center. This is a phenomena which is
2
impacting virtually all communities. As the Council reviews the 1994 preliminary budget, you can
use a rule of thumb that each $100,000 in levy (spending) equates to a $4.18 annual tax increase
on an average $73,000 home.
I recommend the City Council approve the attached resolution setting the 1994 preliminary
property tax levy for Brooklyn Center at $5,845,867 and the preliminary 1994 budget total at
$11,176,361. Under State law, the preliminary property tax levy cannot be exceeded once the City
Council approves the preliminary budget. The budget figure can be exceeded later if authorized
by the City Council. Because you can only lower the preliminary property tax levy, we recommend
the 1994 preliminary levy be set on the high side to allow you flexibility in considering the proposed
1994 budget and levy in December. It is my intention to submit to the City Council the City
Manager's Proposed Budget for 1994 by mid - October. This document will have more reliable
figures in which you can make intelligent and informed decisions. This preliminary document is
designed strictly to establish the required preliminary property tax levy and budget figures to
comply with State notice requirements. Again this year our staff will be working closely with the
PY q g Y your Y
Financial Commission in reviewing the proposed 1994 budget.
RECOMMENDED CITY COUNCIL ACTION
I recommend your favorable consideration of the attached resolution establishing the preliminary
1994 levy and budget figures to be adopted prior to September 15, 1993, in accordance with State
law.
I
3
L-
PRELIMINARY
(ISOERAA) CITY OF BROOKLYN CENTER, MINNESOTA
COMBINED ANNUAL OPERATING BUDGET FOR ALL BUDGETED CITY FUNDS
INCLUDING THE
GENERAL FUND
DEBT RETIREMENT FUNDS - ECONOMIC DEVELOPMENT AUTHORITY (EDA) SPECIAL OPERATING FUND
-----------------------------------------------------------------------------------
----------------------------------------------
1994 PRELIMINARY
SUMMARY OF ESTIMATED REVENUE AND APROPRIATIONS
----------------------------------------------
1993 1994 1994 Percent
Revenue Revenue Increase Increase
REVENUE: Estimate Estimate (Decrease)- Decrease
-- - - - - -- ---- - - - - -- ---- - - - - -- --- - -- - -- --- - - - - --
I. GENERAL PROPERTY TAXES 5,364,438 5,731,921 367,483 6.85%
II. LODGING SALES TAX 400,000 360,000 (40,000) - 10.00%
III. BUSINESS LICENSES & PERMITS 172,565 159,600 (12,965) -7.51%
IV. NON - BUSINESS LICENSES & PERMITS 127,665 129,700 2,035 1.59%
V. INTERGOVERNMENTAL REVENUE 3,219,168 3,300,227 81,059 2.52%
VI. GENERAL GOVERNMENT SERVICE CHARGES 40,000 35,100 (4,900) - 12.25%
VII. PUBLIC SAFETY SERVICE CHARGES 21,000 22,100 1,100 5.24%
VIII. RECREATION FEES 1,010,716 879,713 (131,003) - 12.96%
IX. FINES AND FORFEITURES 200,000 144,000 (56,000) - 28.00%
X. MISCELLANEOUS REVENUE - -- 344,000 - -- 224,000 - (120,000) - 34.88%
XI. TRANSFERS FROM OTHER FUNDS 345,000 190,000 (155,000) - 44.93%
TOTAL ESTIMATED REVENUE 11,244,552 11,176,361 (68,191) -0.61%
1993 1994
Adopted Adopted 1994 Percent
Approp- Approp- Increase Increase
APPROPRIATIONS: riations riations (Decrease)- Decrease
--------- - - - - -- ---- - - - - -- - --- - - - - -- --- - - - - -- --- - - - - --
I. GENERAL FUND 10,583,413 10,997,780 414,367 3.92%
II. DEPT REDEMPTION FUNDS 477,800 0 (477,800) - 100.00%
III. EDA SPECIAL OPERATING FUND 183,339 178,581 (4,758) 100.00%
-- -- - - - - -- ---- - - - - -- ---- - - - - --
TOTAL APPROPRIATIONS 11,244,552 11,176,361 (68,191) -0.61%
1
PRELIM i
(HHRORAR) CITY OF BROOKLYN CENTER, MINNESOTA
COMBINED ANNUAL OPERATING BUDGET FOR ALL BUDGETED CITY FUNDS
INCLUDING THE GENERAL FUND
DEBT RETIREMENT FUNDS - ECONOMIC DEVELOPMENT AUTHORITY (EDA) SPECIAL OPERATING FUND
-----------------------------------------------------------------------------------
1994 PRELIMINARY RESUME OF REVENUE AND ESTIMATED REVENUE
---------------------------------------------------------
1992 1994 1994 1994 %
1991 1992 Estimate Esti- Increase Increase
Actual Actual of 1993 mated (Decrease)- Decrease
Revenue Revenue Revenue Revenue From 1993 From 1993
--- - - - - -- --- - - - - -- --- - - - - -- --- - - - - -- -------------------
I. GENERAL PROPERTY TAXES
General Fund Levy 3,900,060 3,895,323 4,948,325 5,583,340 635,015 12.83%
Debt Retirement Levy 528,718 632,150 230,774 0 (230,774) - 100.00%
EDA Special Levy 0 0 183,339 148,581 (34,758) - 18.96%
Penalties & Interest 1,022 1,039 2,000 0 (2,000) - 100.00%
---- - - - - -- ---- - - - - -- ---- - - - - -- ---- - - - - -- ---- - - - - --
Total Property Taxes 4,429,800 4,528,512 5,364,438 5,731,921 367,483 6.85%
---- - - - - -- ---- - - - - -- ---- - - - - -- ---- - - - - -- ---- - - - - --
II. LODGING TAXES •373,007 394,960 400,000 360,000 (40,000) - 10.00%
III. BUS. LICENSES & PERMIT 199,116 168,494 172,565 159,600 (12,965) -7.51%
IV. NONBUS. LIC. & PERMITS 112,635 163,691 127,665 129,700 2,035 1.59%
V. INTERGOVERNMENTAL REV.
General Fund 2,926,570 3,133,495 3,142,142 3,270,227 128,085 4.08%
EDA Special Levy 30,000 30,000
Debt Retirement Fund 128,939 157,200 77,026 0 (77,026) - 100.00%
---- - - - - -- ---- - - - - -- ---- - - - - -- ---- - - - - -- ---- - - - - --
Total Intergovmt. Rev. 3,055,509 3,290,695 3,219,168 3,300,227 81,059 2.52%
---- - - - - -- ---- - - - - -- ---- - - - - -- ---- - - - - -- ---- - - - - --
VI. GEN. GOVERN. CHARGES 129,172 34,934 40,000 35,100 (4,900) - 12.25%
VII. PUBLIC SAFETY CHARGES 20,540 25,669 21,000 22,100 1,100 5.24%
VIII.RECREATION FEES 731,501 734,273 1,010,716 879,713 (131,003) - 12.96%
IX. FINES & FORFEITURES 202,090 148,701 200,000 144,000 (56,000) - 28.00%
X. MISCELLANEOUS REVENUE
Sale of Certificates 700,000 480,000 120,000 0 (120,000) - 100.00%
Other Revenue
General 360,800 301,771 224,000 224,000 0 0.00%
Debt Retirement 22,863 23,339 0
---- - - - - -- ---- - - - - -- ---- - - - - -- ---- - - - - -- ---- - - - - --
Total Miscl. Revenue 1,083,663 805,110 344,000 224,000 (120,000) - 34.88%
---- - - - - -- ---- - - - - -- ---- - - - - -- ---- - - - - -- ---- - - - - --
XI. TRANSFERS -OTHER FUNDS
To General 177,477 140,000 175,000 190,000 15,000 8.57%
To Debt Retirement 0 0 170,000 (170,000) 100.00%
---- - - - - -- ---- - - - - -- ---- - - - - -- ---- - - - - -- ---- - - - - --
Total Transfers -Other 177,477 140,000 345,000 190,000 (155,000) - 44.93%
---- - - - - -- ---- - - - - -- ---- - - - - -- ---- - - - - -- ---- - - - - --
TOTAL REVENUE & TRANSFERS 10,514,510 10,435,039 11,244,552 11,176,361 (68,191) -0.61%
TOTAL GENERAL FUND 9,856,853 9,645,689 10,583,413 10,997,780 414,367 3.92%
TOTAL DEBT RETIREMENT FUND 657,657 789,350 477,800 0 (477,800) - 100.00%
TOTAL EDA SP. OPER. FUND 0 0 183,339 178,581 (4,758) -2.60%
---- - - - - -- ---- - - - - -- ---- - - - - -- ---- - - - - -- ---- - - - - --
TOTAL - BY - FUND 10,514,510 10,435,039 11,244,552 11,176,361 -- (68,191) -0.61%
2
i
PRELIMINARY
AAAROAAE) CITY OF BROOKLYN CENTER, MINNESOTA
COMBINED ANNUAL OPERATING BUDGET FOR ALL BUDGETED CITY FUNDS
INCLUDING THE
GENERAL FUND
DEBT RETIREMENT FUNDS - ECONOMIC DEVELOPMENT AUTHORITY (EDA) SPECIAL OPERATING FUND
-----------------------------------------------------------------------------------
1994 PRELIMINARY RESUME OF APPROPRIATIONS AND EXPENDITURES
-----------------------------------------------------------
1991 1992 1993 1994 1994 1994 %
Actual Actual Adopted Prelim. Increase Increase
Expend- Expend- Approp- Approp- - Decrease - Decrease
itures itures riations riations From 1993 From 1993
---- - - - - -- ---- - - - - -- ---- - - - - -- ---- - - - - -- --- - - - - -- --- - - - - --
I. GENERAL FUND BY FUNCTION AND ORGANIZATIONAL UNIT
------------------------------------------------
A. General Government 1,590,812 1,797,900 1,667,472 1,753,764 86,292 5.18%
B. Public Safety 3,950,762 3,938,920 4,135,405 4,330,814 195,409 4.73%
C. Public Works 1,818,289 1,594,190 1,764,833 1,881,717 116,884 6.62%
D. Health & Social Services •104,706 114,579 45,647 41,572 (4,075) -8.93%
E. Recreation 1,867,715 1,783,811 2,185,717 2,171,053 (14,664) -0.67%
F. Economic Development 177,178 187,606 190,000 171,000 (19,000) - 10.00%
G. Unallocated Expenses 414,149 273,275 594,339 647,860 53,521 9.01%
---- - - - - -- ---- - - - - -- ---- - - - - -- ---- - - - - -- --- - - - - --
Total General Fund 9,923,611 9,690,281 10,583,413 10,997,780 414,367 3.92%
---- - - - - -- ---- - - - - -- ---- - - - - -- ---- - - - - -- --- - - - - --
I. DEBT - SERVICE - FUNDS - BY - FUND
A. 1980 Park Improvement Bond
Redemption Fund 363,363 335,748 0 0 0
B. 1991 Cert. of Indebtedness
Redemption Fund 306,000 261,000 243,000 0 (243,000) - 100.00%
C. 1992 Cert. of Indebtedness
Redemption Fund 0 198,000 185,200 0 (185,200) - 100.00%
D. 1993 Cert. of Indebtedness
Redemption Fund 0 0 49,600 0 (49,600) 100.00%
---- - - - - -- ---- - - - - -- ---- - - - - -- ---- - - - - -- --- - - - - --
Total Debt Redemption 669,363 794,748 477,800 0 (477,800) - 100.00%
---- - - - - -- ---- - - - - -- ---- - - - - -- ---- - - - - -- --- - - - - --
III. EDA SPECIAL OPERATING FUND
--------------------------
A. Economic Development 0 0 183,339 178,581 (4,758) -2.60%
- - - - -- ---- - - - - -- ---- - - - - -- ---- - - - - -- --- - - - - --
IV. TOTAL APPROPRIATIONS
AND EXPENDITURES 10,592,974 10,485,029 11,244,552 11,176,361 (68,191) -0.61%
---------- - - - - -- ---- - - - - -- ---- - - - - -- ---- - - - - -- ---- - - - - -- --- - - - - --
---------------- ---- - - - - -- ---- - - - - -- ---- - - - - -- ---- - - - - -- --- - - - - --
3
PRELIMINARY
(WWRTATB)Member introduced the following resolution and moved
its adoption:
RESOLUTION NO. 93-
RESOLUTION TO ADOPT THE 1994 PRELIMINARY BUDGET
BE IT RESOLVED by the City Council of the City of Brooklyn Center that the
appropriations for budgeted funds for the calendar year 1993 shall be:
GENERAL FUND
------ - - - - -- Proposed
Unit No. Organizational Unit Amount
-- - - - - -- ------------------------------ - - - - -- ----- - - - ---
ill Council 85,806
112 Charter Commission 9,500
113 City Manager's Office 312,054
114 Elections and Voters' Registration 48,637
115 Assessing 203,212
116 Finance 153,420
117 Independent Audit 18,000
118 Legal Counsel 204,196
119 Government Buildings 337,813
120 Data Processing 381,126
131 Police Protection 3,537,672
132 Fire Protection 429,020
133 Community Development 282,656
134 Emergency Preparedness 48,966
135 Animal Control 32,500
141 Engineering 292,079
142 Street Construction and Maintenance 911,192
143 Vehicle Maintenance 492,146
144 Traffic Signs and Signals 39,500
145 Street Lighting 143,500
146 Weed Control 3,300
152 Social Services 41,572
160 Recreation and Parks Administration 341,269
161 Adult Recreation Programs 293,707
162 Teen Recreation Programs 13,671
163 Children's Recreation Programs 86,555
164 General Recreation Programs 93,185
167 Community Center 632,539
169 Parks Maintenance 710,127
170 Convention and Tourism Bureau 171,000
180 Unallocated Departmental Expenses 329,250
181 Unallocated Personal Services 18,243
182 Contingency 300,367
Total General Fund $10,997,780
ECONOMIC DEVELOPMENT AUTHORITY SPECIAL OPERATING FUND 178,581
TOTAL APPROPRIATIONS FOR BUDGETED FUNDS $11,176,361
4 and
PRELIMINARY
RESOLUTION NO. - 92 = - - --
BE IT FURTHER RESOLVED by the City Council of the City of Brooklyn Center
that the source of financing the sums appropriated are expected to be:
General Property Taxes $ 5,731,921
Sales Taxes on Lodging 360,000
Business Licenses and Permits 159,600
Nonbusiness Licenses and Permits 129,700
Intergovernmental Revenue 3,300,227
General Government Charges for Services 35,100
Public Safety Charges for Services 22,100
Recreation Fees 879,713
Fines and Forfeits 144,000
Miscellaneous Revenue 224,000
Transfers From Other Funds 190,000
TOTAL ESTIMATED SOURCE OF FINANCING $11,176,361
---- --------------- - - - - -- ------------------------------------
Date Todd Paulson, Mayor
ATTEST:
Clerk
The motion of the adoption of the foregoing resolution was duly seconded by member
, and upon vote being taken thereon, the following voted in favor
thereof:
and the following voted against the same:
whereupon said resolution was declared duly passed and adopted.
5
PRELIMiNARY
(IRTATL) Member introduced the following resolution and moved
its adoption:
RESOLUTION NO. 93-
RESOLUTION TO AUTHORIZE A PRELIMINARY TAX LEVY FOR 1994 BUDGET APPROPRIATIONS
-----------------------------------------------------------------------
WHEREAS, The City of Brooklyn Center is annually required by Charter and
state law to approve a resolution setting forth an annual tax levy to Hennepin
County; and
WHEREAS, Minnesota statutes currently in force require certification of a
proposed tax levy to Hennepin County on or before September 15, 1993 and a final
tax levy on or before December 30, 1993.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Brooklyn
Center:
1. There is hereby levied upon all taxable property lying within the City
of Brooklyn Center, a preliminary tax levy of $5,845,867, and the City Clerk shall
cause a copy of this resolution to be certified to Hennepin County so that said sum
shall be spread upon the tax rolls and will be payable in the year 1994.
2. The levies already certified to Hennepin County for the payment of
principal and interest due in 1994 on Certificates of Indebtedness shall be
cancelled and surplus funds transfered from another debt service fund to provide
for their payment.
------------------- - - - - --
Date Todd Paulson, Mayor
ATTEST:
Clerk
The motion of the adoption of the foregoing resolution was duly seconded by member
, and upon vote being taken thereon, the following voted in favor
thereof:
and the following voted against the same:
whereupon said resolution was declared duly passed and adopted.
6