RES 17-76CITY OF OTSEGO
COUNTY OF WRIGHT
STATE OF MINNESOTA
RESOLUTION NO: 2017-76
ADOPTING A PRELEVIINARY PROPERTY TAX LEVY
FOR TAXES PAYABLE IN 2018
WHEREAS, the Otsego City Council is required by State Statute to establish a preliminary tax levy for taxes
payable in 2018 by September 30, 2017 and certify the preliminary tax levy to the Wright County Auditor;
and
WHEREAS, the Otsego City Council has reviewed the City's anticipated expenditures for funds using
property tax proceeds in 2018; and
WHEREAS, the Otsego City Council has considered projected revenues for funds using property tax
proceeds in 2018; and
WHEREAS, revenues from sources other than property taxes are not sufficient to meet the anticipated
expenditures of said funds; and
WHEREAS, the 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 OTSEGO,
AV[NNESOTA:
1. That the following amounts are the maximum to be levied as property taxes payable in 2018 for the
following purposes:
General Revenue
$5,385,756
Tax Abatement
65,546
GO Improvement Bonds, 2010B
440,000
GO Improvement Bonds, 201 OD
107,701
GO Improvement Bonds, 201 IA
107,299
Total Tax Levy 6 106 302
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ADOPTED by the Otsego City Council this 11th day of September, 2017.
ATTEST:
CITY OF OTSEGO
al
Jessica Stockamp, Mayo
Tami Ldff, City Clerk
MOTION made by Council Member Darkenwald and SECONDED by Council Member
`T'annPr
IN FAVOR: Stockamp, Heidner, Darkenwald, Tanner, Warehime
OPPOSED: None
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