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<br /> <br /> <br />CITY OF LINO LAKES <br />RESOLUTION NO. 17-102 <br /> <br />RESOLUTION ADOPTING THE PRELIMINARY 2017 TAX LEVY, COLLECTIBLE IN <br />2018 <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 2018 General Fund <br />operating budget and the preliminary 2017 tax levy, collectible in 2018; and, <br /> <br />WHEREAS, the preliminary levy is the maximum that the City will levy for tax year 2017, <br />collectible in 2018, 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 2017 tax levy, collectible in 2018 to <br />the Anoka County Auditor by September 29, 2017. <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 2017 to be spread for taxes due and payable in the year of <br />2018 is $9,776,732. <br /> <br />2. The total amount levied is for the following purposes: <br /> <br />General Operating Levy $8,165,859 <br /> <br />Bonded Indebtedness <br />G.O. Bond 2012A 176,390 <br />G.O. Bond 2015A 274,378 <br />Equipment Certificates 2015A 70,258 <br />Equipment Certificates 2015B 214,090 <br />Equipment Certificates 2016 167,097 <br />Equipment Certificates 2017 113,087 <br />EDA Lease/Revenue Bond 2015 319,397 <br />G.O. Tax Abatement Refunding Bond 2016C 276,176 <br /> Total Bonded Indebtedness: 1,610,873 <br /> <br />TOTAL LEVIES $9,776,732 <br /> <br />