HomeMy WebLinkAbout15.F.3. Canceling Debt Service Levies for 2004/2005-Res. No. 6104
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City of Shakopee
Memorandum
TO: Mayor and Council CONSENT
Mark McNeill, City Administrator
FROM: Gregg Voxland, Finance Director
RE: Canceling Debt Service Levies for 2004/05
DATE: September 1, 2004
Introduction
Resolution No. 6104 cancels debt service levies for certain bond
issues.
Background
Attached is the resolution canceling debt service levies for
taxes payable in 2005. For those debt service funds that still
need tax support, the levy is included in the General Levy. The
General Fund will transfer money to those funds in 2004 and be
repaid in 2005 by the levy. This provides more flexibility for
the Council and has been handled this way in the past.
A provision is made for a tax levy in pay 2005 for the upcoming
2004C Improvement bond issue.
Requested Action
Offer Resolution No. 6104 A Resolution Canceling Debt Service
Levies For 2004/05, and move its adoption.
Gre~Xland
Finance Director
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RESOLUTION NO. 6104
A RESOLUTION CANCELING DEBT SERVICE LEVIES FOR 2004/05
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SHAKOPEE,
COUNTY OF SCOTT, MINNESOTA, that the following debt service
levies are canceled:
1996A Improvement Bonds $63,495
1998B Improvement Bonds 62,306
1995A Improvement Bonds 61,556
1997B Improvement Bonds 29,980
2000A Improvement Bonds 47,342
2002A Improvement Bonds 97,479
2004C Improvement Bonds 145,000
BE IT FURTHER RESOLVED, that the following irrevocable transfers
be made from the General Fund to the respective debt service
funds in 2004:
1995A Improvement Bonds $ 61,556
1997B Improvement Bonds 29,980
2000A Improvement Bonds 47,342
2002A Improvement Bonds 97,479
2004C Improvement Bonds 145,000
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.
Adopted in session of the City Council of the City of
Shakopee, Minnesota, held this Seventh day of September, 2004.
Mayor of the City of Shakopee
ATTEST:
City Clerk