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MINUTES OF THE TRUTH IN TAXATION HEARING <br />CITY COUNCIL <br />LITTLE CANADA, MINNESOTA <br />DECEMBER 4, 2000 <br />Pursuant to due call and notice thereof a Truth In Taxation Hearing of the <br />City Council of Little Canada, Minnesota was held on the 4°i day of <br />December, 2000 in the Council Chambers of the City Center located at <br />SIS Little Canada Road in said City. <br />Mayor Michael I. Fahey called the meeting to order at 7:00 p. m. and the <br />following members of the City Council were present at roll call: <br />CITY COUNCIL: <br />Mayor <br />Council Member <br />Council Member <br />Council Member <br />Mr. Michael I. Fahey <br />Mr. Steve Morelan <br />Mr. Bob Pedersen <br />Ms. Beverly Scalze <br />ABSENT: <br />ALSO PRESENT <br />Council Member <br />City Administrator <br />Accounting Supvr. <br />Cable TV Producer <br />Deputy Clerk <br />Mr. Jim LaValle <br />Mr. Joel R. Hanson <br />Ms. Tina Hix <br />Mr. Todd Holdman <br />Ms. Kathy Glanzer <br />TRUTH IN On behalf of the Mayor and City Council, the City Administrator <br />TAXATION welcomed those present and the viewing audience to the City's Truth <br />HEARING In Taxation Hearing for the 2001 proposed budget and tax levy. The <br />purpose of this hearing is to provide info oration regarding the City's <br />impact on 2001 property taxes. <br />The Administrator pointed out that Truth In Taxation statements received <br />by property owners were based on a net levy increase of 5%. After further <br />review of the proposed 2001 Budget by the Mayor and City Council, this <br />increase has been reduced to 3.81%. <br />The Administrator reviewed the recommendations made last year by the <br />City's Debt Levy Reduction Committee in planning for the reduction in <br />bonded debt levy for the 2000 Budget and the total elimination of this <br />portion of the levy in 2003. He noted that the Committee established three <br />priorities for the City's financial well being. These are tax stabilization, <br />tax reduction, and capital improvement needs. Based on these priorities, <br />the Committee's 2000 recommendation was implemented and resulted in a <br />tax levy reduction of $102,000, or a 12% drop in the City's tax rate. For <br />