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TC Res. No. 2010-26 Levying general property taxes for the year 2010 to help defray the costs of government for the town of avon budget yearTOWN OF AVON RESOLUTION NO. 10 -26 SERIES OF 2010 A RESOLUTION LEVYING GENERAL PROPERTY TAXES FOR THE YEAR 2010, TO HELP DEFRAY THE COSTS OF GOVERNMENT FOR THE TOWN OF AVON, COLORADO, FOR THE 2011 BUDGET YEAR WHEREAS, the Town Council of the Town of Avon has adopted the annual budget in accordance with the Local Government Budget Law and Town Charter on November 23, 2010; and WHEREAS, the amount of money necessary to balance the budget for general operating purposes from property tax revenue is $2,198,241; and WHEREAS, the amount of money to balance the budget for bonds and interest is $555,696; and WHEREAS, the 2010 net total assessed valuation for the Town of Avon, as certified by the County Assessor is $245,448,980. NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF AVON, COLORADO: Section 1. That for the purpose of meeting all general operating expenses of the Town of Avon during the 2011 budget year there is levied a tax of 8.956 mills upon each dollar of the net total assessed valuation of all taxable property within the Town of Avon for the year 2010. Section 2. That for the purpose of meeting all bonds and interest of the Town of Avon during the 2011 budget year there is levied a tax of 2.264 mills upon each dollar of the net total assessed valuation of all taxable property within the Town of Avon for the year 2010. Section 3. That the Mayor is hereby authorized and directed to certify to the County Commissioners of Eagle County, Colorado, the mill levies for the Town of Avon as hereinabove determined and set. Town of Avon Resolution No. 2010 -26 Page 1 of 2 ADOPTED this 23rd day of November, 2010. TON)W-0-1 AVON, COLORADO Mayor ATTEST: Town of Avon Resolution No. 2010 -26 Page 2 of 2 /v,/ N OF AV A L County Tax Entity Code DOLA LGID /SID CERTIFICATION OF TAX LEVIES for NON - SCHOOL Governments TO: County Commissioners' of Eagle County , Colorado. On behalf of the the of the Town of Avon (taxing entity) A Town Council (governing body) Town of Avon (local government) Hereby officially certifies the following mills to be levied against the taxing entity's GROSS $ 262,533,640 assessed valuation of: (GROS SD assessed valuation, Line 2 of the Certification of Valuation Form DLG 57 ") Note: If the assessor certified a NET assessed valuation (AV) different than the GROSS AV due to a Tax Increment Financing (TIF) Area the tax levies must be calculated using the NET AV. The taxing entity's total property tax revenue will be derived from the mill levy multiplied against the NET assessed valuation of. Submitted: 1210112010 (not later than Dec. 15) (mm /dd /yyyy) $ 245,052,050 assessed valuation, Line 4 of the Certification of Valuation Form DLG 57) for budget/fiscal year 2011 (YYYY) PURPOSE (see end notes for definitions and examples) LEVY' REVENUE' 1. General Operating Expenses" 8.956 mills $ 2,194,686 2. <Minus> Temporary General Property Tax Credit/ Temporary Mill Levy Rate Reduction' < > mills $ < > SUBTOTAL FOR GENERAL OPERATING: 8.956 mills $ 2,194,686 3. General Obligation Bonds and Interest' 2.264 mills $ 554,798 4. Contractual Obligations" mills $ 5. Capital Expenditures`' mills $ 6. Refunds /Abatements" mills $ 7. Other" (specify): mills $ mills $ TOTAL • Sum of General Operating Subtotal and Lines 3 to 7 11.220 mills $ 2,749,484 � • FY Co adt`persdn� Daytime (pr l�tt)''. cott . Wright, Asst. Town Manager phone: ( 970 ) 748 -4055 Signed,­-). n ° C , �/ Title: Mayor Include one copy of this tax entity's completed form when filing the local government's budget by January 31st, per 29 -1 -113 C.R.S., with the Division of Local Government (DLG), Room 521, 1313 Sherman Street, Denver, CO 80203. Questions? Call DLG at (303) 866 -2156 ' If the taxing entity's boundaries include more than one county, you must certify the levies to each county. Use a separate form for each county and certify the same levies uniformly to each county per Article X, Section 3 of the Colorado Constitution. Z Levies must be rounded to three decimal places and revenue must be calculated from the total NET assessed valuation (Line 4 of Form DLG57 on the County Assessor's oral certification of valuation). Form DLG 70 (rev 7/08) Page I of 4 A t • Memo To: Honorable Mayor and Town Council Thru: Larry Brooks, Town Manager Initial Legal: Eric Heil, Town Attorney From: Scott Wright, Asst. Town Manager — Finance Date: November 15, 2010 Re: 2010 Property Tax Levies rsot,ucr no. Zt� z7 Summary: • Two resolutions levying property taxes for Town of Avon general operating, Town of Avon debt service, and the Avon General Improvement District No. 1 are hereby submitted for adoption. The property tax mill rates will be levied as follows: o General operating purposes - 8.956 mills, no change from the previous year; o Debt service - 2.264 mills, an increase of 0.006 mills from 2009; o Avon General Improvement District No. 1 — 9.396 mills, no change from the previous year. In addition, there will be no mill levy for the Avon Metropolitan District as those bonds have now matured (as of December 1, 2010) and been fully redeemed. Recommendation: Staff recommends that Council adopt the resolutions discussed above as presented. Town Manager Comments: • Page 1 Attachments: A — Resolution 10 -26 B — Resolution 10 -27 • Page 2 • rI • EXHIBIT A TOWN OF AVON • RESOLUTION NO. 10 -26 SERIES OF 2010 A RESOLUTION LEVYING GENERAL PROPERTY TAXES FOR THE YEAR 2010, TO HELP DEFRAY THE COSTS OF GOVERNMENT FOR THE TOWN OF AVON, COLORADO, FOR THE 2011 BUDGET YEAR WHEREAS, the Town Council of the Town of Avon has adopted the annual budget in accordance with the Local Government Budget Law and Town Charter on November 23, 2010; and WHEREAS, the amount of money necessary to balance the budget for general operating purposes from property tax revenue is $2,198,241; and WHEREAS, the amount of money to balance the budget for bonds and interest is $555,696; and WHEREAS, the 2010 net total assessed valuation for the Town of Avon, as certified by the County Assessor is $245,448,980. is NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF AVON, COLORADO: Section 1. That for the purpose of meeting all general operating expenses of the Town of Avon during the 2011 budget year there is levied a tax of 8.956 mills upon each dollar of the net total assessed valuation of all taxable property within the Town of Avon for the year 2010. Section 2. That for the purpose of meeting all bonds and interest of the Town of Avon during the 2011 budget year there is levied a tax of 2.264 mills upon each dollar of the net total assessed valuation of all taxable property within the Town of Avon for the year 2010. Section 3. That the Mayor is hereby authorized and directed to certify to the County Commissioners of Eagle County, Colorado, the mill levies for the Town of Avon as hereinabove determined and set. ADOPTED this 23rd day of November, 2010. • Town of Avon Resolution No. 2010 -26 Page 1 of 2 TOWN OF AVON, COLORADO Ronald C. Wolfe Mayor ATTEST: Patty McKenny Town Clerk Town of Avon Resolution No. 2010 -26 Page 2 of 2 Sb r� EXHIBIT B. TOWN OF AVON • RESOLUTION NO. 10 -27 SERIES OF 2010 A RESOLUTION LEVYING GENERAL PROPERTY TAXES FOR THE TOWN OF AVON GENERAL IMPROVEMENT DISTRICT NO. 1 FOR THE YEAR 2010, TO HELP DEFRAY THE COSTS OF GOVERNMENT FOR THE TOWN OF AVON, COLORADO, FOR THE 2011 BUDGET YEAR WHEREAS, on August 28, 2007, the Town Council of the Town of Avon passed on second reading Ordinance No. 07 -07 declaring the Town of Avon General Improvement District No. 1 (District) organized and submitted to the electors of the District the question of imposing an ad valorem tax to pay the annual expenses of the District; and WHEREAS, on November 6, 2007, an election was held under the requirements and procedures of the Uniform Election Code, the Mail Ballot Election Act, and TABOR, and a majority of the votes cast on the question were in favor of incurring such levy as provided in such question; and WHEREAS, the Town Council is authorized to act as the ex- officio Board of • Directors of the District and is authorized to proceed with the necessary action to levy the ad valorem taxes so authorized; and WHEREAS, the authority to levy ad valorem taxes as conferred by the results of the election, is deemed and considered a continuing authority to levy the ad valorem taxes so authorized; and WHEREAS, the Town Council of the Town of Avon has adopted the annual budget in accordance with the Local Government Budget Law and Town Charter on November 23, 2010; and WHEREAS, the estimated cost of providing transportation and recreation services to and within the District is $40,376; and WHEREAS, the 2010 net total assessed valuation for the property included in the District as certified by the County Assessor is $4,297,120. NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF AVON, COLORADO: • Town of Avon Resolution No. 2010 -27 Page] of 2 Section 1. That for the purpose of providing transportation and recreation services to and within the District during the 2011 budget year there is levied a tax of 9.396 mills • upon each dollar of the net total assessed valuation of all taxable property within the District for the year 2010. Section 2. That the Mayor is hereby authorized and directed to certify to the County Commissioners of Eagle County, Colorado, the mill levies for the Town of Avon Local Improvement District No. 1 as hereinabove determined and set. ADOPTED this 23rd day of November, 2010. TOWN OF AVON, COLORADO Ronald C. Wolfe Mayor ATTEST: Patty McKenny • Town Clerk Town of Avon • Resolution No. 2010 -27 Page 2 of 2