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Finance Officer 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 ttu'ough an <br />ougoing levy. <br /> <br />Finance O£ficer 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 Zimmennan, 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 ElvigI and Councihnember Zimmerman. <br />None. Absent: CouncilmemberStrommen. ' <br /> <br />Case #2: Review and Adopt 2005 EDA & lIRA Levy <br /> <br />Voting No: <br /> <br />Finance Office Lund explained at the EDA's monthly meeting on Wednesday, September 8, <br />2004, thc EDA authorized a levy of $233,306 ·with $200,306 as an EDA levy and $33,000 as an <br />HRA levy. Com~cil 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 same amount is required to be levied thais 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 Zimmerman. Voting No: <br />None. Absent: Councilmember Strommen; ~ <br /> <br />Case #3: Authorization of the Issuance and Awarding the Sale of $345,000 General <br /> Obligation Equipment Certificates of 2004 <br /> <br />Fi nan cc O t'fi ce Lund stated with the authorization :of the 2005 levy and budget, capital equipment <br />will be funded partially through the issuance 0fcapital equipment certificates. The amount of the <br />certificates to be issued is $345,000. She reviewed the capital equipment purchases planned for <br />2005. <br /> <br />Councilm ember Zimmerman inquired of the amoUnt of certificates in prior years. <br /> <br />FinanCe Committee/December 14, 2004 <br /> Page 3 bf 6 <br /> <br /> <br />