2015.01.13 CC Packet - Laserfiche WebLink

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December 9, 2014 Page 7 of 9 Sewer Taxing District. Report No. 14-313. City Manager Lotter indicated Finance Director Davitt would be presenting this item to the Council. Finance Director Davitt explained the City was proposing to levy $3,750 for the Lake Diane Storm Sewer Taxing District for 2015. Staff recommended approval of the tax levy for the Lake Diane Storm Sewer Improvement taxing district. Motion by Councilmember Burg, seconded by Councilmember Jacobsen to approve a Resolution adopting the final tax levy for taxes payable in 2015 for the Lake Diane Storm Sewer Improvement Taxing District. 5 Ayes, 0 Nays-Motion Carried 5. Consideration of Resolution Adopting the Final 2015 Tax Levy for Bicentennial Pond Storm Sewer Taxing District. Report No. 14-314. City Manager Lotter indicated Finance Director Davitt would be presenting this item to the Council. Finance Director Davitt explained the City was proposing to levy $2,100 for the Bicentennial Pond Storm Sewer Taxing District for 2015. Staff recommended approval of the tax levy for the Bicentennial Pond Storm Sewer Improvement taxing district. Motion by Councilmember Burg, seconded by Councilmember Jacobsen to approve a Resolution adopting the final tax levy for taxes payable in 2015 for Bicentennial Pond Storm Sewer Improvement Taxing District. 5 Ayes, 0 Nays-Motion Carried 6. Consideration of Resolution Establishing the Utility Rates and Charges for 2015. Report No. 14-315. City Manager Lotter indicated Finance Director Davitt would be presenting this item to the Council. Finance Director Davitt explained the City’s water, sewer, stormwater and street lights enterprise operations are each accounted for in their own separate and distinct fund. Each fund/operation has been established to be financially independent. The revenues of each fund are designed to cover its operating costs, capital maintenance and replacement. She reported that rates are adjusted in accordance with costs. The rate setting process is intended to provide for gradual annual adjustments whenever possible, focusing on the City’s long- term strategy. Each year assumptions are reviewed and adjusted as necessary. The long-term plan then reflects the most current assumptions and financial conditions. Adjustments to the recommended rates for 2015 for Water and Sewer are slightly higher from those anticipated in last year’s analysis. Adjustments to the recommended 2015 rates for Street Lights are higher than anticipated a year ago due to the addition of maintenance costs in the analysis. She reviewed the proposed rates noting staff was looking ahead 20 years, when proposing the rate adjustments. She discussed how homeowners would be impacted by the new utility rates. Staff recommended the Council adopt the 2015 utility rates and charges. Councilmember Bauman thanked staff for the thorough report and for their forward thinking. Councilmember Jacobsen agreed and thanked staff for reevaluating the utility rates and charges with the next 20 years in mind. Councilmember Burg appreciated the forward thinking from staff and discussed the benefits of the City not having to borrow money now or in the future. Mayor Jacobsen thanked staff for addressing the utility rates. He then provided comment on the importance of the City’s water and sewer infrastructure. Motion by Councilmember Jacobsen, seconded by Councilmember Burg to adopt a Resolution 4. Consideration of Resolution Adopting the Final 2015 Tax Levy for Lake Diane Storm Sewer Taxing District. Report No. 14-313. 5. Consideration of Resolution Adopting the Final 2015 Tax Levy for Bicentennial Pond Storm Sewer Taxing District. Report No. 14-314. 6. Consideration of Resolution Establishing the Utility Rates and Charges for 2015. Report No. 14- 315.