HomeMy WebLinkAbout7.c. 1994 Debt Service Levy ' CITY �F 1ZOSEMOT7NT
EXECUTIVE SUI+�MARY FOR ACTION
CITY COUNCIL MEETING DATE: FEBRUARY 2, 1993
AGENDA ITEM; 1994 DEBT SERUICE, LE�TY` AGhNDA SECTION:
NEW BUSINESS
PREPARED BY: STEPHAN JILK, CITY ADMINISTRAT(�R AGENDA ���
� �
ATTACHMENTS: 1993 DEBT SERViCE LEVY' AP OVED,BY•
Councilmember Willcox has reques�ed that this item be brought for
discussion.
Councilmember Willcox has requested that the Council be advised of the
projected debt service levy requirements for taxes payable in 1994 .
In order to provide this staff wi1.l have to make some fairly liberal
assumptians on what projects will be funded in 1994 such as the Fire
Station and other improvement projects.
If Council wishes to consider this at the present time, we can provide data
which reflect certain assumptions. Some of these assumptions may not prove
true depending on the final status of certain projeets which will require
financing and therefore subsequen� tax levies to support a31 Qr a portion
of that debt.
When looking at the 1993 Debt Levy and the projects already fin.anced, we
can easily provide the 1994 needs for those same projects. It is when we
assume the completion af certain projects not yet approved we have to
understand that we are creating cost figures now which may change
drastically befare the final Tevy is established for 1994 ,
If Council wishes this work to be done a� this time the following motion
would be appropriate:
RECOMMENT3ED ACTION•
Motion to direct staff to provide debt service levy projections for
the 1994 Levy by March 2, 1993 .
COUNCIL ACTION•
1992 GENERAL PROPERTY TAX LEVY PAYABLE 1993
Generai Levy
GENERAL FUND $2,069,671
5-YE�,R CIP PROGR�Ni FUND 171,4 6 0
RETIREMENT/SEVERANCE FUND 6Q, OOfl
TOT.AL GENSRAL LEVY $2,3D1,131
Bcaded Indebtedaess
G.O. MUNTGIPAL BLDG BONDS 1986 (Autharized-$150,444) $ 150, 444
G.O. IMPROVEMENT BONDS 1987A(Authorized-$319, 523) 92, 132
G.O. IMPROVEMENT BONDS 1988B (Authorized-$72, 6591 -0-
G.O. IMPROVEMENT BONDS 1989B{Authorized-$88► a89) 88, 089
G.O. IMPROVEMENT BONDS 1991A{Authorized-$d} -0-
G.O. YMPROVEMENT B�NDS 1992A(Authorized-$0) -4-
G,O. CONQ+�iTJNITY CENTER BONDS 1992CtAuthorized-$106,222) 106,222
G.�. IMPROVEMENT BONDS 1992D(Authorized-$?, 622) -0-
G.O. MUNTCIPAL BLDG BONDS 1992EjAuthorized-$152, 728) -D-
TOTAL BONDED INDEBTEDNESS $ 436, $$7
Certificates of Sadebtedaess •
G.O. EQUIPMENT CERTIFICATES 1951C (Authorized $50, 054) $ 50, Q54
TOTAL CLRTIFICA�S OF INDEBTEDNSSS $ 50, 054
Priacipal and Interest on Axmory Boads
ARMORY ANTICIPAT�RY LESTIESf$95, 000 + $3$0, 064, 70Ox.00798�s} $ 125, 329
TOT,AL PRINCIFAL AND INTEREST �N �iRMORY BONDS $ 125,329
- . GRAN� TOTAL 3992 PROPERTY TAX LEVY $Z,913,401
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