Agenda - Council - 09/24/2019 - Laserfiche WebLink

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lour Misiion: To work together to reiposibty grow our community, and to provide quality, coat -effective, and efficient government ierrlcas. CC Regular Session 7. 1. Meeting Date: 09/24/2019 By: Diana Lund, Finance Information Title: Adopt Resolution #19-225 Adopting Proposed 2020 Payable Tax Levies (General, EDA and Debt Service) and Schedule Public Hearing for December 10, 2019; Adopt Resolution #19-226 Adopting Proposed 2020 General Fund Budget and Resolution #19-227 Adopting Proposed 2020 EDA Budget. Purpose/Background: Purpose: Each taxing authority must certify its proposed preliminary property tax levies for payable 2020 to the County Auditor by September 30, 2019. A budget/levy slide presentation will be provided that will outline the city's proposed 2020 levies and General Fund Budget. The levy as presented reflects the consensus of the City Council at the final preliminary budget/levy work session on September 10, 2019. Proposed 2020 Payable Tax Levy: Proposed Tax Levies: General Fund Levy: $10,703,409 EDA Levy (Included in General Levy) 91,413 (EDA presented 8/8/19 & 9/12/19) Debt Service Levy — CIP Bond -(Fire Station #2) (Being Requested) 262,358 Debt Service Levy — CIP Bond(Municipal Center) (Being Requested) 1,117,813 Debt Service Levy - 2013 Equipment Certificate (Being Requested) 66,073 Debt Service Levy - 2014 Equipment Certificates 99,380 Reconstruction Debt - Andrie & Overlays (Being Requested) 66,377 Reconstruction Debt - Sunwood Drive & Alpine (Being Requested) 48,877 Reconstruction Debt - River's Bend & Stanhope Terrace (Being Requested) 57,467 Reconstruction Debt - Garnet Street & Overlays (Being Requested) 28,542 TOTAL PROPOSED LEVY — 2020 $12,541,709 Based upon the proposed levy, the City's tax rate is projected to decrease in 2020, subject to final property and tax calculations by the County. The attached resolution, as it is presented, reflects a levy of $12,541,709. The proposed levy for 2020 reflects a $710,373 (6.00% increase) over the adopted levy in 2019 of $11,831,336.