RES 19-40Resolution 19- 40
A Resolution of the City of Elk River Authorizing the Preliminary Property
Tax Levy for Collection in 2020
WHEREAS, the Elk River City Council is required to establish a preliminary tax levy for
taxes payable in 2020 by September 30,2019 and certify the preliminary tax levy to the
Sherburne County Auditor; and,
WHEREAS, the Elk River City Council has reviewed the City's anticipated expenditures
for all funds in 2020; and,
WHEREAS, the Elk River City Council has considered projected revenues for all funds in
2020; and,
WHEREAS, revenues from sources other than property taxes are not sufficient to meet
anticipated expenditures of all funds; and,
WHEREAS, debt levies have been adjusted or cancelled based on revenue collections and
projections.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Elk
River, Minnesota, as follows: The following amounts are the maximum to be levied as
property taxes payable in 2020:
Levy
General Fund $ 12,026,100
Library 69,000
2010A G.O. Capital Improvement Plan Bonds 619,920
Economic Development Tax Abatement 138,550
Lake Orono Dredging 100000
TOTAL $ 12.953.570
Passed and adopted this 3" day of September 2019.
ATTEST:
Tina Allard, Ci Clerk
Jol J. Diez May r
P0VEBEB 81
NATURE