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97-45 CITY OF CHANHASSEN CARVER AND HENNEPIN COUNTIES, MINNESOTA DATE: June 23, 1997 RESOLUTION NO: 97-45 MOTION BY: Berquist SECONDED BY: Mason DECLARING INTENT TO EXERCISE LOCAL TRANSIT LEVY OPTION FOR TAXES IN 1998 WHEREAS, Laws of Minnesota for 1996, Chapter 455, Section 4 (the "Local Levy Option Act"), allows the Cities of Chanhassen, Chaska, and Eden Prairie, to make a local transit tax levy in lieu of receiving assistance from the Metropolitan Council under Minnesota Statutes, Section 473.388, subdivision 4; and, WHEREAS, said local transit levy will replace a similar transit tax levy which would otherwise be made by the Metropolitan Council; and, WHEREAS, in order to effectively exercise the local transit tax levy option, it is necessary that each of the Cities of Chanhassen, Chaska, and Eden Prairie, notify the State Commissioner of Revenue and the Metropolitan Council of its intent to levy the taxes before July 1 of each levy year and to include in the notification the amount of the City's proposed transit tax for the levy year; and, WHEREAS, it is in the best interest of the City of Chanhassen that it declare its intent to exercise the local transit levy option for taxes payable in 1998. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Chanhassen as follows: 1. The City hereby declares its intent to exercise the local transit tax levy option for taxes payable in 1998 in the maximum amount permitted by Local Levy Option Act and as certified by the State Commissioner of Revenue in accordance therewith. 2. The City Manager is authorized and directed to give the State Commissioner of Revenue and the Metropolitan Council of the City's intent to exercise the local transit tax option for taxes payable in 1998 in accordance with the notice attached hereto as Exhibit A and incorporated herein by reference. Passed and adopted by the Chanhassen City Council this 23rd day of June, 1997. ATTEST: Don Ashworth, City Clerk/Manager YES NO Mancino Berquist Mason Engel Senn Nancy K. Mancino, Mayor ABSENT None EXHIBIT A NOTICE OF INTENT TO EXERCISE LOCAL TRANSIT TAX LEVY OPTION FOR TAXES PAYABLE IN 1998 The State Commissioner of Revenue and the Metropolitan Council are hereby notified that the City of Chanhassen, Minnesota, intends to exercise the local tax levy option for taxes levied in 1997 and payable in 1998 pursuant to Laws of Minnesota for 1996, Chapter 455, Section 4. The proposed amount of the City's transit tax for the 1997 levy year is $614,504, or the 1997 levy amount ($549,473) multiplied by the maximum levy limit for the City of Chanhassen, e.g.: ($549,473 X Implicit Price Deflator + % Growth in # of Households from 1995 to 1996) whichever is less, all in accordance with the Laws of Minnesota for 1996, Chapter 455, Section 4, for taxes levied by the City in 1997 and payable in 1998. By order of the City Council of the City of Chanhassen.