HomeMy WebLinkAbout13.F.2. Cancelling Debt Service Levy for 2009/2010-Res. No. 6931
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City of Shakopee
Memorandum
TO: Mayor and Council
Mark McNeill, City Administrator
FROM: Gregg Voxland, Finance Director
RE: Canceling Debt Service Levy for 2009/10
DATE: August 19, 2009
Introduction
Resolution No. 6931 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 2010 for the public works building. The
Internal Service Building Fund will transfer money to the debt
service fund in 2009.
The General Fund will transfer money to the two debt service
funds in 2009 and be reimbursed in 2010 by the limited tax levy.
Requested Action
Offer Resolution No. 6931 A Resolution Canceling Debt Service
Levy For 2009/10, and move its adoption.
~
Gregg Voxland
Finance Director
h:\budgetl0\budres 10
RESOLUTION NO. 6931
A RESOLUTION CANCELING DEBT SERVICE LEVY FOR 2009/10
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 $468,437
2006A GO Improvement Bonds 342,736
2002A GO Improvement Bonds 74,208
BE IT FURTHER RESOLVED that the following irrevocable transfer
be made from the Internal Service Building Fund to the
respective debt service fund in 2009 with the difference being
paid from the fund balance in the debt service fund:
2004D Capital Improvement Bonds $415,497
BE IT FURTHER RESOLVED that the following irrevocable transfer
be made from the General Fund to the respective debt service
fund in 2009:
2006A GO Improvement Bonds $342,736
2002A GO Improvement Bonds 74,208
Adopted in session of the City Council of the City of
Shakopee, Minnesota held this day of September, 2009.
Mayor of the City of Shakopee
ATTEST:
City Clerk