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<br /> <br /> <br />CITY OF LINO LAKES <br />RESOLUTION NO. 16-119 <br /> <br />RESOLUTION ADOPTING THE PRELIMINARY 2016 TAX LEVY, COLLECTIBLE IN <br />2017 <br /> <br />WHEREAS, Minnesota State Statutes grant local governments the authority to levy property <br />taxes to finance the operations of local jurisdiction; and, <br /> <br />WHEREAS, the City of Lino Lakes annually levies property taxes to finance General Fund <br />operating costs and annual debt service on outstanding indebtedness; and, <br /> <br />WHEREAS, the City Council of Lino Lakes has reviewed the proposed 2017 General Fund <br />operating budget and the preliminary 2016 tax levy, collectible in 2017; and, <br /> <br />WHEREAS, the preliminary levy is the maximum that the City will levy for tax year 2016, <br />collectible in 2017, and which may be lowered but cannot be increased before adopting the final <br />tax levy; and, <br /> <br />WHEREAS, the City Council must certify the preliminary 2016 tax levy, collectible in 2017 to <br />the Anoka County Auditor by September 30, 2016. <br /> <br />NOW, THEREFORE BE IT RESOLVED that the City Council of the City of Lino Lakes, <br />Minnesota, hereby does levy on a preliminary basis the following upon taxable property in said <br />City of Lino Lakes: <br /> <br />1. Total amount levied in the year 2016 to be spread for taxes due and payable in the year of <br />2017 is $9,685,562. <br /> <br />2. The total amount levied is for the following purposes: <br /> <br />General Operating Levy $7,530,287 <br /> <br />Bonded Indebtedness <br />G.O. Tax Abatement Bond 2006C 285,411 <br />G.O. CIP Refunding Bond 2006E 464,100 <br />G.O. Bond 2012A 177,692 <br />G.O. Bond 2015A 273,223 <br />Equipment Certificates 2014 178,164 <br />Equipment Certificates 2015A 71,749 <br />Equipment Certificates 2015B 215,030 <br />Equipment Certificates 2016 172,189 <br />EDA Lease/Revenue Bond 2015 317,717 <br /> Total Bonded Indebtedness: 2,155,275 <br /> <br />TOTAL LEVIES $9,685,562 <br />