2017 Annual Budget Adopted - Laserfiche WebLink

Home Search

CITY OF LINO LAKES RESOLUTION NO. 16-162 RESOLUTION ADOPTING THE FINAL 2016 TAX LEVY, COLLECTIBLE IN 2017 WHEREAS, the City of Lino Lakes has budgeted to pay expenditures for General Fund operating costs anticipated in the year 2017, and WHEREAS, the City of Lino Lakes has budgeted to pay the annual debt service on outstanding indebtedness, and WHEREAS, the City Council adopted its preliminary 2016 tax levy, collectible in 2017, in anticipation of the above expenses, and WHEREAS, the City Council has published in the official newspaper all notices required by Minnesota State Statutes and the City Charter, and WHEREAS, the City Council held its public hearing on December 12, 2016. NOW, THEREFORE BE IT RESOLVED that The City Council of The City of Lino Lakes, approves its final 2016 tax levy, collectible in 2017, upon taxable property within the City of Lino Lakes as follows: 1. Total amount levied in the year 2016 to be spread for taxes due and payable in the year 2017 is $9,491,855. 2. The total amount levied above is for the following purposes: General Operating Levy $7,360,431 Bonded Indebtedness G.O. CIP Refunding Bond 2006E 464,100 G.O. Bond 2012A 177,692 G.O. Bond 2015A 273,223 EDA Lease/Revenue Bond 2015 317,717 G.O. Tax Abatement Refunding Bonds 2016C 261,560 Equipment Certificates 2014 178,164 Equipment Certificates 2015A 71,749 Equipment Certificates 2015B 215,030 Equipment Certificates 2016 172,189 Total Bonded Indebtedness: 2,131,424 TOTAL LEVIES $9,491,855 Adopted by the Council of the City of Lino Lakes this 12th day of December, 2016. The motion for the adoption of the foregoing resolution was introduced by Council Member and was duly seconded by Council Member and upon vote being taken thereon, the following voted in favor thereof: The following voted against same: ATTEST: Julianne Bartell, City Clerk A-1 Jeff Reinert, Mayor