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<br />Debt Service Levy: <br />The City issued the 2014A Bonds for building the Public Works facility. These bonds contain a levy <br />component. Since the City has been using the Water & Sewer Capital Replacement Fund to pay these <br />bonds instead of the levy, a motion must be passed each year to waive the debt service levy. <br /> <br />Bond <br />Issue <br />Original <br />Principal <br />Date <br />Issued <br />2022 Levy Portion <br />per Bond Register <br />Reduction in <br />Levy <br />2022 Certified <br />Debt Levy <br />2014A <br />Bonds <br />$3,400,000 03-11-14 $183,618.75 ($183,618.75) $0 <br /> <br />Budget Documents: <br />The proposed preliminary budget is located here: <br />https://www.littlecanadamn.org/DocumentCenter/View/2018/Proposed-Preliminary-2022-Budget-for-City-of- <br />Little-Canada-PDF <br /> <br />It can also be accessed on the City’s website under Departments-Finance-City Budget & CIP. <br /> <br />STAFF RECOMMENDATION: <br /> <br />1. Motion to approve the 2022 Preliminary Levy at $3,761,410 (5% Increase). <br /> <br />2. Motion to set the Budget Hearing for December 15th, 2021 at 7:30 pm <br /> <br />3. Motion to approve the 2022 bonded debt tax levy reductions which will result in a zero bonded <br />debt tax levy for 2022. <br /> <br />