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MINUTES <br />CITY COUNCIL <br />NOVEMBER 9, 2005 <br />The Parkland acquisition Fund was next reviewed, with the Finance <br />Director noting the increase from $300,000 to $400,000 for Che acquisition <br />of additional properties on Round Lake should they become available. <br />Other funds reviewed included the Park & Recreation Special Fund, Cable <br />TV Fund, Bonded Indebtedness and Debt Service Funds, ]0% Fund, and <br />Gambling Enforcement Fund. <br />The Director again noted that the changes discussed this evening will <br />result in a gross levy increase of 2.32% over the 2005 Budget and a 4.32% <br />net levy increase. Again, the City's tax rate would decrease from <br />23.682% in 2005 to 21.332% in 2006, a 9.92% decrease. <br />The City Administrator noted that the final budget document will be <br />prepared and presented to the Council at the Truth In Taxation Hearing <br />scheduled for Monday, December 5, 2005 at 7 p.m. Final budget adoption <br />will occur at the regular Council meeting on Wednesday, December 14, <br />2005. <br />There being no further business, the workshop meeting was adjourned at <br />7:20 p.m. <br />-- ~~ <br />William Blesener, Mayor <br />Attest: ~=._____-.~ <br />anson, City Administrator <br />