Fiscal Note
The 2020 tax levy established by this resolution is necessary to fund the 2021 budget. This levy will result in a tax rate of approximately 8.66 mills.
This resolution also includes a paragraph authorizing the application of general debt reserves to pay general fund debt service without an appropriation of an equal amount from the general fund for capital projects. That paragraph must be separated during budget adoption and requires an affirmative two-thirds vote of the Council, pursuant to section 4.17, Madison General Ordinances.
Title
SUBSTITUTE - Adopting the 2021 City Budget authorizing a 2020 general property tax levy of $255,933,573 for City of Madison purposes, adopting a supplemental increase of $13,453 in the allowable property tax levy for 2020, as authorized under s. 66.0602(3)(f), Wisconsin Statutes, and declaring the City's official intent to issue general obligation and revenue bonds to reimburse for certain expenditures authorized therein.
Body
The 2020 tax levy established by this resolution is necessary to fund the 2021 budget. This levy will result in a tax rate of approximately 8.66 mills.
Adopting the 2021 City Budget authorizing a 2020 general property tax levy of $255,933,573 for City of Madison purposes, adopting a supplemental increase of $13,453 in the allowable property tax levy for 2020, as authorized under s. 66.0602 (3) (f), Wisconsin Statutes, and declaring the City's official intent to issue general obligation and revenue bonds to reimburse for certain expenditures authorized therein.
BE IT RESOLVED, that the revenues herein named and funds received from taxes levied and other sources are hereby appropriated to the several departments of municipal government for purposes hereinafter mentioned for the fiscal year beginning January 1, 2021 and ending December 31, 2021 as shown in the 2021 City Budget on file in the office of the City Clerk; and,
BE IT FURTHER RESOLVED, that the expenditures within departments fo...
Click here for full text