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2010/2011 Budget
Page Exhibits for Worksession 3/29/10 1 Reveue & Expenditure chart from 2010 budget book. 2 2009 Certified Value from DOR 3 Mill levy calculation 4 Consolidated Levy sample tax 5 Administrative Transfer 6 Data Processing Transfer 7 Central Garage Transfer 8 2010 City special Assessments and utility charges 9 History of City Assessments 10 History of Utility rates 11 Debt Obligation Schedule 12 Debt Limitation -MCA 13 Revenue page- Westside Tax Increment 2011 projection 14 Westside TIF distribution - sample distributions 15 FYI- salary splits Public Works 16 FYI- salary splits Parks and other departments [ k00 2a § \/- K � � $ IJ /7 W \ \ A © ©-.. ... 2 .' )Mullping.. \® 0 \\ / /§a B / / ( \ � �® # b \� � /J (r § Q cn ( ) /E ] � { I o_ m s_ M� p m m C m q ©■ = o q ■ e o 2" _ o en e o ■_ c» c _ e o In m o _- m »�« r4 e� m 7 t- m m _ � 2 7 - & & / k � o / � ■ Q j � a � ) A � >■ m U 2 � � � / � k � ■ a ° # 2 ¥ c � ■ \ & K � § m Monto 00 nnrentof MONTANA Foffn AB-72T Rev.8-09 Revised 9/3/2009 �� 2009 CoMfied `taxable Valuation Information (Pursuant to 15-10-202, MCA) County of Flathead Taxing Jurisdiction: Ka flspefl � 1. 2000 `dotal Market Value .......................... 2, 2009 Total Taxable Value......................................................... 8 39 522,014 3. 2009 Taxable Value of Newly Taxable Property ......... p rty...... ............. $ 1,453,182 4. 2009 Taxable Value less Incremental Taxable Value* $ 37.9g1,gg5 2009 Taxable Value of Net and Gross Proceeds 0 (Mass 1 and Glass 2 properties) Tax Increment District Name Kalispell c U)0+1; Kalispell S �3tro��t Old School�- TechnoWG old School Industrial H Current Taxable V 3,713053 1,413,397 75,854 Base `taxable Value 3347 453,612 390 Incremental Value .490 706 959 785 75.464 142 .689 128 14,161 Total Incremental Value pan 11R ®ate 1 f h a x4 `Note: This value is the taxing jurisdiction's taxable value less total incremental value of all tax increment financing districts. . .............................. 4 .......-------------------o®®-o For Information Purposes only - o ®m......... 2009 taxable value of centrally assessed property having a market value of $1 million or more, Which has transferred to a different ownership in compliance with 15-10-202(2), MCA... Value included in "newly taxable" property $ 0 Il. Total value exclusive of "newly taxable" property $ g tiOY 440T Mill levy calculation ® Dept. of Revenue values for FY2010 DETERMINATION OF TAX REVENUE AND MILL LEVY LIMITATIONS UNDER HOUSE BILL 124 Ad valorem tax revenue assessed 2006-2007 kdd: FISCAL YEAR 2009 INFLATION ADJUSMENT @ 1.1% Section 94 (1)(a) 55,723 Technical correction - last years calculation Adjusted Property Tax Revenue Assessed s V RF%&1V I r rr;R A -CV T L UMrU I A i JUN: Taxable value per mill Less: Newly taxable property per mill value, Taxable value per mill (enter as negative) djusted Taxable value per mill Authorized mill levy under HB 124 (includes floating mills) Adjusted taxable value per mill Add: Newly taxable property per mill value Taxable value per mill of net and gross proceeds (coui Taxable value per mill (including newly taxable property) Authorized mill levy under HB 124 (includes floating mills) :urrent property tax revenue limitation 10. (1,453.00) 1,453 0 C0.0P►r11 UL.A I JUN: revious year adjusted property tax revenue assessed (5) Amount attributable to newly taxable property and net/gross proceeds urrent property tax revenue 12 5,065,760 55,723 (3,479) 51118,005 37,982 (1,453) 36,529 140.11 36,529 1,453 37,982 140.11 5,321,581 5,11 5,321,581 FY2009-2010 CONSOLIDATED LEVY School District 75 0.68098 School District 29 0.62308 (Old School Station) School District 1 0.548980 (Costco, Lowes, etc) School Distric 44 0.600800 Residental property in Kalispell #75with a market value: Total tax: county mkt value tax rate city, state, & schools $100,000 0.0293 0.68098 = $ 1,995.27 $200,000 0.0293 0.68098 = $ 3,990.54 Residental property in Kalispell #75 with a market value: mkt value tax rate CITY TAX $100,000 0.0293 0.16981 = $ 497.54 $200,000 0.0293 0.16981 = $ 995.09 City specials would be based on square footage of lot. County landfill would be assessed also. Commercial property in Kalispell #75 with a market value: mkt value tax rate Cons. Mill est. tax $1,000,000 0.0293 0.68098 = $ 19,952.71 $2,000,000 0.0293 0.68098 = $ 39,905.43 $5,000,000 0.0293 0.68098 = $ 99,763.57 $10,000,000 0.0293 0.68098 = $ 199,527.14 2011 Manager Personnel Mayor/council City Clerk Finance Attomey(less prosecutors) City Hall General Gov't./Insurance Total $ 107,052 $ 127,000 $ 102,438 $ 126,508 $ 240,665 $ 157,368 $ 215,999 $ 37,657 $ 1,114,687 tl Costs for each fund are taken from the previous year's financial statements ALLOCATION FY2011 BUDGET FY08 FY 09 Percent of Comparison Expenditures Total $ 18,985,752 General Government $ 15,783,693 0.55006346 $ 259,819 Udag $ 171,717 0.00598436 $ 336,946 Airport Tif 2185 & 3185 $ 359,081 0.01251401 $ 48,228 Westside Tif 2188 & 3188 $ 331,349 0.01154755 $ 169,365 Forestry $ 196,311 0.00684146 $ - BID $ 29,694 0.00103484 $ 145,714 Parking Comm $ 150,006 0.00522773 $ 202,121 Airport $ 114,935 0.00400550 $ 2,241,308 Water Fund $ 2,438,373 0.08497757 $ (12,910,620) supported funds $ 153,469 Water Billing $ 159,046 0.00554277 $ 28,694,313 total per budget print out $ 1,361,631 Sewer Operations $ 1,631,386 0.05685398 $ 15,793,693 $ 171,133 Sewer Billing $ 186,227 0.00649003 $ 2,367,417 Wastewater Fund $ 2,713,819 0.09457689 $ 816,608 Storm sewer $ 822,640 0.02866910 $ 762,782 Solid Waste Fund $ 772,132 0.02690889 $ 340,000 Building Inspection $ 340,231 0.01185709 $ 1,251,455 Street Maint. $ 1,460,634 0.05090326 $ 190,843 Light Maint. $ 183,300 0.00638803 $ 896,919 Ambulance $ 849,739 0.02961350 $ 30,701,510 Total $ 28,694,313 1.000000 General Fund 0.550063 $ Total Allocation 613,149 FYI Last Years $ 830,809 diff Udag 0.005984 $ 6,671 $ 10,451 $ (3,780) Airport Tif 0,012514 $ 13,949 $ 13,554 $ 395 Westside Tif 0.011548 $ 12,872 $ 25,000 $ (12,128) Forestry 0.006841 $ 7,626 $ 6,813 $ 813 BID 0.001035 $ 1,154 $ - $ 1,154 Parking Comm 0.005228 $ 5,827 $ 5,861 $ (34) Airport 0.004005 $ 4,465 $ 8,130 $ (3,665) Water Operations 0.084978 $ 94,723 $ 90,156 $ 4,567 Water Billing 0.005543 $ 6,178 $ 6,173 $ 5 Sewer Operations 0.056854 $ 63,374 $ 54,771 $ 8,603 Sewer billing 0.006490 $ 7,234 $ 6,884 $ 350 Wastewater Operations 0.094577 $ 105,424 $ 95,228 $ 10,196 Storm sewer 0.028669 $ 31,957 $ 32,848 $ (891) Solid Waste 0.026909 $ 29,995 $ 30,683 $ (688) Building Inspection-$1,215 0.011957 $ 12,002 $ 12,353 $ (351) Street Maint. 0.050903 $ 56,741 $ 50,339 $ 6,402 Light Maim 0,006388 $ 7,121 $ 7,677 $ (556) Ambulance 2230 _ 0.029613 $ 33,010 $ 36,078 $ (3,068) Total 1.000000 $ 1,113,472 $ 492,999 $ 7,324 $ 500,323 Revenue to General Fund Bid& dept cannot fund Note: Did not include cost of prosecutor to be r/Council budget-adm reduced $2,323 distributed for Admin. 13 Monthly $ 555.89 $ 1,162.43 $ 1,072.66 $ 635.51 $ 96.13 $ 485.61 $ 372.07 7,893.62 $ 514.87 $ 5,281.20 $ 602.86 $ 8,785.30 $ 2,663.09 $ 2,499.58 $ 1,000.16 $ 4,728.43 $ 593.39 $ 2.750.82 $ 41,693.62 i Page 1015 . O O\ [- t- 4n t- �' M tn kn to O\ M O\ O O\ O CN ON CN ONt- � IT 4n O\ W) O !n M v M M OOCO M M I�t O I�t M d' O N In N O\ to r-i —i ,--i 00 r-i t- p t O 64 69 N N N — 64 — — — 69 69 to v) O 64 6s 64 64 64 64 6s 64 — — M N 6s 64 64 O V 69 N Qs 64 1f) r O1 h M et rt O� ei O T 00 V) 0a GO M N M �D M) O d iD L7 t M �O M Iz \4� M 1n O14: 4 r1 N M us 6") 6t4 G* 6d3 En Ge 64 6s Ge 6s Ge U') 6®3 Ff3 Go') O O O O 110 O O � O O M 69 m 69 r 00 [- 00 to -. 00 t- 00 W) � y N W F p. a � a'7 W F A 69 69 6s 6s 64 6s 64 69 69 69 6s 6s 6H 6s O 0 0 0 0 0 0 0 0 0 0 0 0 0 O %O 00 O O 00 O N N It 110 O 00 O M rr [ - l ON t- h V- N et It,:, N W M a 0 U 6s 64 64 64 609. 6s 6s 6s 6s 69 6s 6s 6s 64 00 N .-a - [- •-+ W) It ON M ON O �O O\ ON O ON d' 00 \O N \.O M IF N O O �O 110 to \.O '-, M m m N 0 Cl O N ~ --� - -- - - � Op i� 00 Vj •--i 'O N 0 48 64 6s 64 64 6s 6s 64 64 64 64 64 6s 64 64 o h o o h o 0 0 0 0 0 0 0 O W) O v) vn � O l-- to l� l� N M d' N O w � a A � HQ7 33 A 14 5s ,It 00 M M i 641 64 It 'IT M h d' 69 lC7 cq IM GS 69 N 00 M �-+ M N ONO 6s 0 O C` V' W� W 0 O O O OW� 00 00o V O M W O U v] b0 q .b 0 t7 c7 a �u a. a INTEROFFICE DATE March 2, 2010 TO: Amy Robertson, Finance Director FROM: Terri Loudermilk, Budget Resource Manager SUBJECT: Central Garage Transfer Listed below is a three year history of central garage transfers, and the central garage transfer amount for FYI 1. To determine the transfer amount several factors were considered. These include: the 5 yr average for equipment maintenance/repair costs, the previous year's equipment repair costs, the percent of increase or decrease in costs so far this year compared to the same time last year, and adding a small increase to those departments with the oldest equipment. If you have any questions or comments, please let me know. Ambulance $ 6,500.00 $ 7,500.00 $ 8,000.00 $ 9,000.00 Com Dev $ 500.00 $ 500.00 $ 500.00 $ - Sewer $ 2,500.00 $ 2,500.00 $ 3,000.00 $ 2,500.00 Storm $ 2,000.00 $ 2,500.00 $ 2,500.00 $ 2,500.00 Solid Waste $ 26,000.00 $ 26,000.00 $ 26,000.00 $ 26,000.00 Street $ 65,000.00 $ 63,000.00 $ 63,000.00 $ 66,000.00 WWTP $ 3,500.00 $ 3,500.00 $ 4,000.00 $ 3,500.00 Water $ 8,500.00 $ 8,500.00 $ 8,500.00 $ 7,500.00 Building $ 1,000.00 $ 1,000.00 $ 600.00 $ 300.00 Forestry $ 2,500.00 $ 2,500.00 $ 2,500.00 $ 2,500.00 $ 118,000.00 $ 117,500.00 $ 118,600.00 $ 119,800.00 5 Year History of Equipment Maintenance/Repair Charges Ambulance $ 4,519.52 $ 8,460.81 $ --.......-.....--.:-s=.+. .-..awr.r. Fif'+ F"i.l1T.X VIeGL 12,198 95 $ 8,044 35 $ 10,795;.31 $ 8,803.79 Com Dev $ 155.90 $ 661.91 $ 397.72 $ 451.93 $ - $ 333.49 Sewer $ 3,884.33 $ 3,651.95 $ 2,614.44 $ 7,465.91 $ 4,660.30 $ 4,455.39 Solid Waste $ 25,295.49 $ 19,526.60 $ 22,718.78 $ 22,190.17 $ 24,687.63 $ 22,883.73 Street $ 61,580.60 $ 63,731.42 $ 49,062.37 $ 72,988.82 $ 87,600.76 $ 66,992.79 WWTP $ 1,194.49 $ 1,964.82 $ 3,960.63 $ 4,092.09 $ 4,047.21 $ 3,051.85 Water $ 4,997.72 $ 5,303.15 $ 5,858.59 $ 8,374.04 $ 9,753.36 $ 6,857.37 Building $ 251.45 $ 224.80 $ 283.26 $ 257.02 $ 161.75 $ 235.66 Forestry $ 1,667.05 $ 2,733.58 $ 2,164.51 $ 2,128.36 $ 739.75 $ 1,886.65 City Special Assessments and fees City of Kalispell Sq. Foot Sq. Foot Residential BID BID 2009-2010 Lighting Forestry Garbage SQ. FOOT Mill Levy 0.003000 0.001710 $ 108.00 $ 0.015 37.5 mills cap $150 residential cap $300 commercial Sq. foot Special Street 1. Special Street 2. Special Street 3. Special Street 4. cat.1-cap cat. 2 -cap 2009-2010 0.012220 0.012220 0.018030 0.019000 $ 1,064.61 $ 266.15 1. Vacant land over 2 acres capped (87,120 sq.ft.) 2. Residential land over 1/2 acre capped (21,780 sq. ft.) 3. Commercial 90% covered 4. Commercial 100% covered Sq. foot Storm 1. Storm 2. Storm 3. Storm 4. cat. 1-cap cat. 2-cap 2009-2010 0.002880 0.005569 0.009990 0.012488 $ 250.90 $ 121.29 1. Vacant land over 2 acres capped (87,120 sq.11.) 2. Residential land over 1/2 acre capped (21,780 sq. ft.) 3. Commercial 90% covered 4. Commercial 100% covered Bi-monthly sewer water spinkling Billing water Billing sewer 2009-2010 per 1.000 gallons $ 4.19 $ 2.43 $ 1.55 $ 3.75 $ 3.75 City of Kalispell - History of Assessments Sq. Foot Sq. Foot Residential BID Lighting Forestry Garbage SQ. FOOT 2009 0.003000 0.001710 S 108.00 0.015 2008 0.003000 0.001350 $ 108.00 0 2007 0.003000 0.001350 $ 102.00 0 2006 0.003000 0.001350 $ 90.00 0 2005 0.003000 0.001350 $ 90.00 0.015 2004 0.003000 0.001350 $ 90.00 0.015 2003 0.003000 0.001350 $ 85.00 2002 0.002420 0.001350 2001 0.002400 0.000675 2000 0.001420 0.000675 1999 0.001420 1998 0.001420 cap $150 residential 1997 0.001420 cap $300 commercial 1996 0.001420 1995 0.001420 1994 0.001420 Sq. foot Special Street 1. Special Street 2. Special Street 3. Special Street 4. cat.1-cap cat. 2 -cap 2009 0.012220 0.012220 0.018030 0.019000 S 1,064.61 S 266.15 2008 0.012220 0.012220 0.018030 0.019000 $ 1,064.61 $ 266.15 2007 0.011110 0.011110 0.016390 0.017270 $ 967.90 $ 241.98 2006 0.010100 0.010100 0.014900 0.015700 $ 879.91 $ 219.97 2005 0.010100 0.010100 0.014900 0.015700 $ 879.91 $ 219.97 2004 0.010100 0.010100 0.014900 0.015700 $ 879.91 $ 219.97 2003 0.008600 0.008600 0.012600 0.013300 $ 749.22 $ 187.30 2002 0.005900 0.005900 0.008600 0.009100 $ 514.00 $ 128.50 2001 0.005500 2000 0.004500 1999 0.004500 1998 0.004500 1997 0.004500 1. Vacant land over 2 acres capped (87,120 sq ft.) 1996 0.004500 2. Residential land over 1/2 acre capped (21,780 sq ft.) 1995 0.004500 3. Commercial 90% covered 1994 0.004000 4. Commercial 100% covered Sq. foot Storm J. Storm 2. Storm 3. Storm 4. cat. 1-cap cat. 2-cap 2009 0.002880 0.005569 0.009990 0.012488 S 250.90 S t21.29 2008 0.002880 0.005569 0.009990 0.012488 $ 250.90 $ 121.29 2007 0.0025835 0.004995 0.00896014 0.011200175 $ _ $ _ 2006 0.0023170 0.004480 0.008036 0.010045 $ 201.86 $ 97.57 2005 0.0020780 0.004018 0.007207 0.009009 $ 201.88 $ 97.48 2004 0.0018640 0.003604 0.006464 0.008081 $ 162.39 $ 67.41 2003 0.0016720 0.003233 0.005798 0.007247 $ 145.66 $ 70.41 2002 0.0015000 0.002900 0.005200 0.006500 $ 130.68 $ 68.16 2001 0.0013735 2000 0.0013735 1999 0.0013735 1998 0.0013735 1997 0.0013735 1996 0.0013735 1995 0.0013735 1994 0.0013735 1. Vacant land over 2 acres capped (87,120 sq ft.) 2. Residential land over 1/2 acre capped (21,780 sq ft.) 3. Commercial 90% covered 4. Commercial 100% covered 3/26/2010 assessmentratehistory Utility rate history billing (each) Year sewer water sprinkling $ 3.75 2009/2010 $ 4.19 $ 2.43 $ 1.55 no change $ 3.75 2008/2009 $ 4.19 $ 2.43 $ 1.55 no change $ 3.75 2007/08 $ 4.19 $ 2.43 $ 1.55 $ 3.55 2006/07 $ 3.99 $ 2.21 $ 1.41 $ 3.25 2005/06 $ 3.80 $ 2.01 $ 1.28 5 years (2003 -2007) $ 3.00 2004/05 $ 3.62 $ 1.83 $ 1.16 already approved $ 2.85 2003/04 $ 3.48 $ 1.66 $ 1.05 2002/03 $ 3.38 $ 1.51 $ 0.95 eliminated large user price break 2001/02 $ 3.28 $ 1.39 $ 0.83 rev. neutral price change 1996 $ 2.98 $ 1.26 $ 0.75 eliminate minimum billing, 1993 $ 2.54 $ 1.29 $ 0.62 water only 1991 $ 2.54 $ 1.15 $ 0.55 sewer only- wwtp construction 1990 $ 1.88 $ 1.15 $ 0.55 sewer only- wwtp construction FY 2011 DEBT OBLIGATION SCHEDULE - ALL FUNDS RATE FUND Remaining Balance 6/30/2010 PRINCIPAL FY 2011 Payment INTEREST TOTAL GENERAL FUND: 3.95% 2008 Fire Ladder Truck -Rocky Mtn. Bank Note $575,000 10 yr 3.25%v 2006 BOI - Fire Truck $279,900 10 yr 3.25%v 2005 BOI-City Hall HVAC $151,836 10yr $478,000 $166,905 $73,004 $51,500 $27,828 $15,562 $18,380 $5,425 $2,373 $69,880 $33,253 $17,935 TOTALGENERALFUNII $717,909 $94,890 $26,178 $121,068 SPECIAL REVENUE: 1.o0% 2005 USDA- IRP Loan 61-01 Revolving Fund $627,500 30 yr 1.00% 2006 USDA- IRP Loan 61-02 Revolving Fund $257,500 30 yr 6.00% 1995 COURTYARD mortgage (Comm. Action Partner.) $270,730 30 yr SPECIAL REVENUE TOTALS DEBT SERVICE FUNDS: 3.83% 2005 AIRPORT TIF DEBT $2,000,000 15 yr 4.85% 2007 CITY HALL 12 yr $1,420,165 (3/2015 earliest pre -payment date) 4.66% 2002 G.O.BOND-POOL $3,675,000 20 yr 3.94% 2005 G.O.BOND-FIRE HALL $3,000,000 I5 yr DEBT SERVICE FUNDS TOTALS SIDEWALK & CURB WARRANTS (8 yr) 4.25% 2002 S&C $13,363.74 4.5o% 2003 S&C $13,758.44 5.50% 2004 S&C $31,692.72 7.75% 2005 S&C $22,850.13 6.50"/ 2007 S&C $15,407.04 3.50% 2008 S&C $ 8,980.80 3.50% 2009 S&C $ 7,629.48 S & C TOTALS SIDS: 6.340% 1997 SID 342 - Corporate Way $209,000 (Final Payment) 5.600% 2001 SID 343 - Sunnyview KRMC $1,518,500 20 yr 5.2701/. 2006 SID 344 - Old School Station $4,520,000 20 yr SIDTOTALS $486,074 1 $17,215 $4,865 $22,080 $257,500 $8,440 $2,492 $10,932 $189,874 $8,335 $11,170 $19,505 $933,448 $33,990 $18,527 $52,517 $1,445,000 $120,000 $60,435 $180,435 $1,181,983 $100,632 $56,125 $156,757 $2,610,000 $170,000 $121,888 $291,888 $2,195,000 $185,000 $82,358 $267,358 $7,431,983 $575,632 $320,806 $896,438 $1,671 $1,671 $71 $1,742 $3,440 $1,720 $138 $1,858 $11,885 $3,855 $636 $4,491 $11,425 $2,857 $860 $3,717 $11,555 $1,926 $700 $2,626 $7,858 $1,123 $255 $1,378 $7,629 $955 $250 $1,205 $55,463 $14,107 $2,910 $17,017 $10,000 $10,000 $365 $10,365 $720,000 $80,000 $33,800 $113,800 $3,620,000 $225,000 $169,958 $394,958 $4,350,000 $315,000 $204,123 $519,123 Water 4.00% 2001 SFR loan (Main & Idaho Water Main) $761,000 20yr $481,000 $38,000 $18,56C 4.00% 2004 Refunding Bond (Hwy 93 So. Project) $1,840,000 20yr $1,050,000 $145,000 $46,633 3.75% 2007 SRF - A Bonds Refunding (meters & hydrants) $1,283,159 8yr $846,000 $157,000 $30,262 3.75% 2007 SRF - B Bonds (New Reservoir) $1,500,000 20yr $1,423,000 $22,000 $53,157 TOTAL WATER $3,800,000 $362,000 $148,612 Sanitary Sewer & Waste Water Treatment Plant 4.00% 1991 WWTP SRF Loan $3,913,425 (3 year remain) *** $672,000 $261,000 $24,300 4.1o% 2002 WWTP Refunding Revenue Bond $1,813,3 50 (Final) *** $230,000 $230,000 $9,730 3.75% 2004 Sanitary SRF loan $1,475,860 (Hwy 93 So.) 20 yr $1,138,000 $63,000 $42,075 3.75% 2007WWTPSRF LOAN $14,470,000 20yr $13,701,000 $215,000 $511,820 TOTALSEWER/WWTP $15,741,000 $769,000 $587,925 TOTAL ALL DEBT $2,164,619 $1,309,081 ** * Sewer bonds which will be paid off were taken into consideration when structuring the 2007 W WTP SRF Loan. The early SRF loan payments were reduced and will increase when these bonds are paid. Debt service in the sewer fund will remain at $1.3 million when these bonds older bonds are paid off. Note: all loans are fixed rate with the exception of the two BOI loans which are marked with a v next to the rate. BOI - Board of Investments USDA-IRP -Dept of Agriculture Intermediary Relending Program SRF- State Revolving Fund (DNRC money) G. O. Bonds -General Obligation voted bonded debt $56,560 $191,633 $187,262 $75,157 $510,612 $285,300 $239,730 $105,075 $726,820 $1,356,925 $3,473.700 Montana Code Annotated 2000 Pte4bus Se:Aic€ MCA G;rztenls E';irt ;:or"eats sealch He)',,) Next Sedior�. 7-7-4201. Limitation on amount of bonded indebtedness. (1) Except as provided in 7-7-4202, a city or town may not issue bonds or incur other indebtedness for any purpose in an amount that with all outstanding and unpaid indebtedness exceeds 2.5% of the total assessed value of taxable property, determined as provided in 15-8-111, within the city or town, as ascertained by the last assessment for state and county taxes. (2) The issuing of bonds for the purpose of funding or refunding outstanding warrants or bonds is not the incurring of a new or additional indebtedness but is merely the changing of the evidence of outstanding indebtedness. (3) The limitation in subsection (1) does not apply to bonds issued for the repayment of tax protests lost by the city or town. History: En. Sec. 3, Ch. 160, L. 1931; re -en. Sec. 5278.3, R.C.M. 1935; amd. Sec. 1, Ch. 116, L. 1951; amd. Sec. 2, Ch. 34, L. 1955; amd. Sec. 1, Ch. 33, L. 1973; amd. Sec. 30, Ch. 566, L. 1977; R.C.M. 1947, 11-2303; amd. Sec. 2, Ch. 617, L. 1979; amd. Sec. 47, Ch. 614, L. 1981; amd. Sec. 11, Ch. 213, L. 1989; amd. Sec. 13, Ch. 570, L. 1995; amd. Sec. 25, Ch. 426, L. 1999; amd. Sec. 20, Ch. 556, L. 1999; amd. Sec. 10, Ch. 29, L. 2001; amd. Sec. 3, Ch. 187, L. 2007. It 7 3% `76 c. http://data.opi.mt.gov/bills/mca/7/7/7-7-4201.htm 10/15/2009 WESTSIDE TAX INCREMENT DISTRICT "C" FUND: 2188 PROJECTED REVENUE AND FUND SUMMARY BEGINNING CASH 10100 Operating Total Cash REVENUES 311100 Real Estate Taxes 311200 Personal Property Taxes 312000 Penalty & Interest 335230 H13 124 Entitlement 341015 Developer payment-TELETECH 383001 Operating Transfer from Debt Fund 3188 Total Revenue Total Available EXPENDITURES Redevelopment Activities Distribution Construction Total Expenditures ENDING CASH Operating Estimated ACTUAL BUDGET ACTUAL BUDGET FY08/09 FY09/10 FY09/10 FY10/11 $1,573,348 $1,674,567 $1,674,567 $255,884 $1,573,348 $1,674,567 $1,674,567 $255,884 $300,000 $14,000 $182 $20,684 $45,000 $350,000 $487,173 $487,173 $0 $350,000 $487,173 $487,173 $379,866 $1,923,348 $2,161,740 $2,161,740 $635,750 $68,602 $1,565,750 $35,750 $1,500,000 $600,000 $180,179 $595,990 $405,856 $0 $248,781 $2,161,740 $1,905,856 $635,750 $1,674,567 $0 $255,884 $0 All Increment is required to be receipted in to the Debt Service Fund If there is excess increment available after meeting all of the requirements of the debt service fund it O ct' — N h �c to t- t- W O t` O Itt o0 -+ O1 � t` O 01 mot \C M M 00 O (D t` 1.0 M .� 00 O vNi O O\ M N N -+ .-+ M� ON \�O N N N O N O M \C h O M en W) O M M O N *•-� 0% O M a\ M 01 00 N- 0�0 " N O O o0 M O to m o O" — Mr O oo -- r- N It � 7 O i M 7 00 '! 6s 6s 64 bs 64 69 64 64 6H 6s 64 6s 6A 64 ss rs Vg 63 64 O 00 — N 00 O M \C t- dt . t` V . h M o0 \D O O\ t� 00 V7 to O O\ � O 01 t- O h en t- t- d' M_ In* �--i OG O 0.-+ O N t 0 O \ 0 C M O N ~ Oo N ~ O d M O OG \CC � .-+ N N 00 en 00 M �+ M mot' O T n M M In cM ti 69 6s 69 69 6s 6s 6s 64 bs 60S 69 6s 64 6Fi 69 69 69 bfi 64 O Q1 -+ oo to O N d' kn \C O .-+ O \p N N �t O \o P h t- O M N V! 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