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Financc Officcr Lund replied the rate last year was 37.4 percent. The school district and the <br />county went down and the City picked up a little of that share. She noted the overall tax total <br />across the board went from 101 percent down to 97 percent. <br /> <br />Chairperson Elvig questioned if the Capital Equipment Certificates will be funded through an <br />ongoing levy. <br /> <br />Finance Officer Lund replied the $326,154 attributed to the Capital Equipment Certificates is <br />part of the 2005 budget. Each year there will be different capital items and the amount will <br />always fluctuate. <br /> <br />Motion by Chairperson Elvig, seconded by Councilmember Zimmerman, to recommend City <br />Council adoption of a resolution adopting the 2005 City of Ramsey General Fund Operating <br />Budget. <br /> <br />Motion carried. Voting Yes: Chairperson Elvig and Councilmember Zimmennan. Voting No: <br />None. Absent: CouncilmemberStrommen. <br /> <br />Case #2: Review and Adopt 2005 EDA & HRA Levy <br /> <br />Finance Office Lund explained at the EDA's monthly meeting on Wednesday, September 8, <br />2004, the EDA authorized a levy of $233,306 with $200,306 as an EDA levy and $33,000 as an <br />HRA Icvy. Council accepted the EDA's recommendation and adopted the $233,306 at its regular <br />meeting of September 13, 2004. She explained the $33,000 represents the amount of the HRA <br />fiscal disparity levy last year. For Ramsey to collect the $33,000 from the fiscal disparity pool, <br />the samc amount is required to be levied this year or it would be distributed to other <br />communities. <br /> <br />Motion by Councilmember Zimmerman, seconded by Chairperson Elvig, to recommend that the <br />City Council adopt a resolution adopting the 2004, payable 2005 HRA Tax Levy; and that the <br />City Council adopt a resolution adopting the 2004, payable 2005 EDA Tax Levy. <br /> <br />Motion carried. Voting Yes: Chairperson Elvig, and Councilmember Zimmennan. Voting No: <br />None. Absent: Councihnember Strommen. <br /> <br />Case #3: <br /> <br />Authorization of the Issuance and Awarding the Sale of $345,000 General <br />Obligation Equipment Certificates of 2004 <br /> <br />Finance Office Lund stated with the authorization of the 2005 levy and budget, capital equipment <br />will be funded partially through the issuance of capital equipment certificates. The amount of the <br />certificatcs to be issued is $345,000. She reviewed the capital equipment purchases planned for <br />2005. <br /> <br />Councihncmber Zimmerman inquired of the amount of certificates in prior years. <br /> <br />Finance Committee/December 14~ 2004 <br /> Page 3 of 6 <br /> <br /> <br />