HomeMy WebLinkAbout5.F.3. Canceling Debt Service Levy for 2008/2009-Res. No. 6803
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City of Sbakopee
Memorandum
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TO: Mayor and Council <,,: ~ .. t~~..
Mark McNeill, City Administrator
FROM: Gregg Voxland, Finance Director
RE: Canceling Debt Service Levy for 2008/09
DATE: August 19, 2008
Introduction
Resolution No. 6803 cancels the debt service levy for the Public
Works building bond issue and two improvement bond issues.
Background
Attached is the resolution canceling the debt service levy for
taxes payable in 2009 for the public works building. The
Internal Service Building Fund will transfer money to the debt
service fund in 2008.
The General Fund will transfer money to the two debt service
funds in 2008 and be reimbursed in 2009 by the limited tax levy.
Requested Action
Offer Resolution No. 6803 A Resolution Canceling Debt Service
Levy For 2008/09, and move its adoption.
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Gregg Voxland
Finance Director
h:\budget09\budres09
RESOLUTION NO. 6803
A RESOLUTION CANCELING DEBT SERVICE LEVY FOR 2008/09
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SHAKOPEE,
COUNTY OF SCOTT, MINNESOTA, that the following debt service
levies are canceled:
2004D Capital Improvement Bonds $465,497
2007B GO Improvement Bonds 93,945
2008A GO Improvement Bonds 159,323
BE IT FURTHER RESOLVED that the following irrevocable transfer
be made from the Internal Service Building Fund to the
respective debt service fund in 2008:
2004D Capital Improvement Bonds $465,497
BE IT FURTHER RESOLVED that the following irrevocable transfer
be made from the General Fund to the respective debt service
fund in 2008:
2007B GO Improvement Bonds $ 93,945
2008A GO Improvement Bonds 159,323
BE IT FURTHER RESOLVED, that the City Clerk is hereby instructed
to transmit a certified copy to this resolution to the County
Auditor of Scott County, Minnesota.
A.dopted in session of the City Council of the City of
Shakopee, Minnesota held this day of September, 2008.
Mayor of the City of Shakopee
ATTEST:
City Clerk