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2016-162 Council Resolution
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2016-162 Council Resolution
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6/14/2017 11:58:11 AM
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6/12/2017 2:46:41 PM
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City Council
Council Document Type
Resolutions
Meeting Date
12/12/2016
Council Meeting Type
Regular
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CITY OF LINO LAKES <br />L.• RESOLUTION NO. 16-162 <br />RESOLUTION ADOPTING THE FINAL 2016 TAX LEVY, COLLECTIBLE IN 2017 <br />WHEREAS, the City of Lino Lakes has budgeted to pay expenditures for General Fund <br />operating costs anticipated in the year 2017, and <br />WHEREAS, the City of Lino Lakes has budgeted to pay the annual debt service on outstanding <br />indebtedness, and <br />WHEREAS, the City Council adopted its preliminary 2016 tax levy, collectible in 2017, in <br />anticipation of the above expenses, and <br />WHEREAS, the City Council has published in the official newspaper all notices required by <br />Minnesota State Statutes and the City Charter, and <br />WHEREAS, the City Council held its public hearing on December 12, 2016. <br />NOW, THEREFORE BE IT RESOLVED that The City Council of The City of Lino Lakes, <br />approves its final 2016 tax levy, collectible in 2017, upon taxable property within the City of <br />Lino Lakes as follows: <br />1. Total amount levied in the year 2016 to be spread for taxes due and payable in the year <br />2017 is $9,491,855. <br />2. The total amount levied above is for the following purposes: <br />General Operating Lea $7,360,431 <br />Bonded Indebtedness <br />G.O. CIP Refunding Bond 2006E 464,100 <br />G.O. Bond 2012A 177,692 <br />G.O. Bond 2015A 273,223 <br />EDA Lease/Revenue Bond 2015 317,717 <br />G.O. Tax Abatement Refunding Bonds 2016C 261,560 <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 />Total Bonded Indebtedness: 2,131,424 <br />TOTAL LEVIES $9,491,855 <br />Adopted by the Council of the City of Lino Lakes this 12th day of December, 2016. <br />
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