Why does the City issue debt?

The City issues debt for infrastructure and large scale equipment that has a useful life equal to or greater than the length of the debt. Seventy percent of the City’s debt levy is for street reconstruction. 

The City is in the middle of a plan to reconstruct all streets within the City paid for with debt, special assessments and user charges for water, sewer and storm sewer. All streets in Hopkins are planned to be reconstructed in the next 10-12 years. The City has also made significant infrastructure investments on the 8th Avenue Artery and Blake Road that prepare the City to take full advantage of Southwest Light Rail. 

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1. How many departments prepare a budget?
2. Where do multi-use paths fall within the budget and can that be shown as its own line item?
3. What opportunities will there be to comment on the preliminary budget after it is approved in September?
4. Why does the Truth in Taxation hearing occur so late in the budget process?
5. Does the city use a top-down or bottom-up budget process?
6. Do departments receive any instructions on how to prepare budgets? Who set the instructions?
7. Did or could you consider a Fiscal Advisory Committee made up of residents?
8. When will the 2020 Budget document be posted online?
9. When do you plan to update the Financial Management plan for the next five years?
10. Does the Hopkins compare itself with other Cities?
11. Why does the City issue debt?
12. Will revenue considerations that affect decisions on the upcoming zoning changes be made?
13. Commercial property bring in more revenue, is the city focusing on them over residential apartment buildings?
14. What is the outcome of the Moline parking ramp settlement? How does it affect the budget? What documents are available online?