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CITY OF LINO LAKES RESOLUTION NO. 18-117 RESOLUTION ADOPTING THE PRELIMINARY 2018 TAX LEVY, COLLECTIBLE IN 2019 WHEREAS, Minnesota State Statutes grant local governments the authority to levy property taxes to finance the operations of the local jurisdiction; and, WHEREAS, the City of Lino Lakes annually levies property taxes to finance General Fund operating costs and annual debt service on outstanding indebtedness; and, WHEREAS, the City Council of Lino Lakes has reviewed the proposed 2019 General Fund operating budget and the preliminary 2018 tax levy, collectible in 2019; and, WHEREAS, the preliminary levy is the maximum that the City will levy for tax year 2018, collectible in 2019, and which may be lowered but cannot be increased before adopting the final tax levy; and, WHEREAS, the City Council must certify the preliminary 2018 tax levy, collectible in 2019 to the Anoka County Auditor by September 30, 2018. NOW, THEREFORE BE IT RESOLVED that the City Council of the City of Lino Lakes, Minnesota, hereby does levy on a preliminary basis the following upon taxable property in said City of Lino Lakes: 1. Total amount levied in the year 2018 to be spread for taxes due and payable in the year of 2019 is $10,162,007. 2. The total amount levied is for the following purposes: General Operating Levy Bonded Indebtedness G.O. Bond 2012A G.O. Bond 2015A Equipment Certificates 2015B Equipment Certificates 2016 Equipment Certificates 2017 Equipment Certificates 2018 EDA Lease/Revenue Bond 2015 G.O. Tax Abatement Refunding Bond 2016C G.O. Bond 2018A Total Bonded Indebtedness: TOTAL LEVIES $8,299,715 180,012 270,178 213,119 167,559 111,395 115,211 315,722 289,096 200,000 1,862,292 $10,162,007 Adopted by the Council of the City of Lino Lakes this 24th day of September, 2018.