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Debt Levy Reduction Committee <br />The City of Little Canada has a unique opportunity for you to assist in planning for the City's <br />financial future! The City currently levies $637,000 each year in property taxes, or 33% of its <br />tax levy, to cover bonded debt payments. In the year 2000, our levy for bonded debt will <br />decrease by $256,400, and in the year 2003, this levy will be entirely gone. <br />This reduction in bonded debt provides the City with a significant opportunity to plan for its <br />future to maximize benefits to our taxpayers. Some of the options available for consideration <br />include reductions in tax levies, capital improvement planning, street improvements, as well as <br />future debt avoidance. <br />The City is seeking interested citizens and business owners to help plan for the debt levy <br />reduction. A committee is being formed to study this issue and make a recommendation to the <br />City Council. If you are interested in serving on this committee, please contact City <br />Administrator Joel Hanson at 484 -2177 by Friday, June 12, 1998. The committee appointments <br />should be finalized by July with meetings to begin in August.• <br />Page 42 <br />