09-23-2019 Council Meeting Minutes

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COUNCIL MINUTES APPROVED 46 Mayor Reinert explained that the City Council has the ability to tax at different percentages toward 47 property value. If that percentage increases then taxes go up on property and vice versa for a 48 reduction. Valuations on property do fluctuate and they impact property taxes also. He noted the 49 tax rate proposed this year and that it represents a decrease from previous years. That reduces the 50 percentage that will be taxed to property owners in Lino Lakes. The council has worked hard to get 51 to that reduction. He thanked staff for their participation. Mayor Reinert added that the tax rate 52 approved by the council tonight (preliminary) cannot go up but can be reduced. 53 Council Member Manthey moved to approve Resolution No. 19-121 as presented. Council Member 54 Maher seconded the motion. Motion carried on a voice vote. 55 2B) Consider Resolution No. 19-122, Setting the Date and Time for a Public Hearing for 56 the Proposed 2020 Operating Budget and 2019 Tax Levy, Collectible in 2020 — Finance 57 Director Cotton explained that the resolution sets the date and time for the required public hearing 58 on the City budget. 59 Council Member Maher moved to approve Resolution No. 19-122 as presented. Council Member 60 Stoesz seconded the motion. Motion carried on a voice vote. 61 2C) Cancelling Debt Service Tax Levy(s) — Finance Director Cotton explained that the item 62 requests council consideration of cancelling certain tax levies. The tax levy was built into certain 63 bonds but staff can report that the levy is not needed as other sources are adequate to cover debt 64 service for those issuances. 65 i) Consider Resolution No. 19-123, Canceling the 2019/2020 Debt Service Tax Levy for 66 G.O. Improvement Bond, Series 2013A 67 ii) Consider Resolution No. 19424, Canceling the 2019/2020 Debt Service Tax Levy for 68 G.O. Capital Note, Series 2016A 69 iii) Consider Resolution No. 19425, Canceling the 2019/2020 Debt Service Tax Levy for 70 Taxable G.O. Improvement Refunding Bonds, Series 2016B 71 Council Member Maher moved to approve Resolution No. 19-125, 126 and 127 as presented. 72 Council Member Stoesz seconded the motion. Motion carried on a voice vote. 73 2D) Consider Resolution No. 19-126, Authorizing Issuance of 2020 Certificates of 74 Indebtedness —Finance Director Cotton explained that the resolution will authorize issuance of 75 certificates that are included in the preliminarily approved 2020 budget. 76 Mayor Reinert remarked that this action is ahead of previous schedules to allow the timely purchase 77 of equipment. 78 Council Member Stoesz noted that the City loans the money to itself and he was informed that the 79 interest is dedicated to the Area and Unit Fund. 80 Council Member Maher moved to approve Resolution No. 19-126 as presented. Council Member 81 Stoesz seconded the motion. Motion carried on a voice vote. 82 83 ADMINISTRATION DEPARTMENT REPORT 2