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Certified of Indebtedness (Capital Equip Certi£.) <br /> (Being Requested) <br /> <br />75,980 <br /> <br />TOTAL PROPOSED LEVY-2000 <br /> <br />$2,925,370 <br /> <br />Finance Officer Lund explained that while the maximum proposed levy can always be reduced, it <br />cannot be increased without "higher" level approval through an appeals process. Therefore, it is <br />staffs position that the maximum proposed levy be adopted at the level proposed. Staff <br />recommended that the Committee recommend approval to the Council of the City of Ramsey's <br />payable 2000 proposed maximum tax levy in the amount of $2,925,370, and to schedule the City <br />of Ramsey's initial budget public hearing on Monday, December 6, 1999, at 6:00 p.m., and a <br />reconvene date (if necessary) of Monday, December 13, 1999, at 6:00 p.m. <br /> <br />Councilmember Zimmerman questioned if the Debt Service Levy will be included every year. <br /> <br />Finance Officer Lund replied that it will be included for the next 15 years. <br /> <br />Councilmember Anderson questioned the definition of Lease Revenue Bonds. <br /> <br />Finance Officer Lund explained that the EDA acts on behalf of the City and the City makes <br />annual lease payments for the principal and interest. <br /> <br />Councilmember Hendriksen requested verification that by approving the proposed maximum <br />2000 payable tax levy it does not obligate the Council to the individual line items that are <br />affiliated with the budget and that the budget could be reduced. <br /> <br />Finance Officer Lund verified that the approval is only for the levy limits. <br /> <br />City Administrator Norman agreed that the Council is not obligated to any line item and that the <br />budget can be reduced. <br /> <br />Motion by Councilmember Zimmerman, seconded by Councilmember Connolly, to recommend <br />that City Council adopt the resolution approving the Proposed Maximum 1999, Payable 2000, <br />Tax Levy. <br /> <br />Motion carried. Voting Yes: Mayor Gamec Councilmembers Zimmerman, Connolly, Anderson, <br />and Hendricksen. Voting No: None. <br /> <br />Case #2: Review and Adopt "Proposed" 2000 General Fund Budget <br /> <br />Finance Officer Lund stated that the 2000 Proposed General Fund Budget, as it has been <br />presented is based on the collection of tax dollars at the level certified by the State under the <br />imposed levy limits. The City had a Human Resources Analysis study performed by an outside <br />consultant during the summer of 1999. Based on their findings, the budget includes an increase <br /> <br />Finance Committee/September 14, 1999 <br /> Page 2 of 6 <br /> <br /> <br />