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CITY OF LINO LAKES RESOLUTION NO. 19-121 RESOLUTION ADOPTING THE PRELIMINARY 2019 TAX LEVY, COLLECTIBLE IN 2020 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 2020 General Fund operating budget and the preliminary 2019 tax levy, collectible in 2020; and, WHEREAS, the preliminary levy is the maximum that the City will levy for tax year 2019, collectible in 2020, and which may be lowered but cannot be increased before adopting the final tax levy; and, WHEREAS, the City Council must certify the preliminary 2019 tax levy, collectible in 2020 to the Anoka County Auditor by September 30, 2019. 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 2019 to be spread for taxes due and payable in the year of 2020 is $10,491,518. 2. The total amount levied is for the following purposes: General Operating Levy $8,368,756 Bonded Indebtedness G.O. Bond 2012A 178,080 G.O. Bond 2015A 271,228 Equipment Certificates 2015B 214,216 Equipment Certificates 2017 111,353 Equipment Certificates 2018 107,100 Equipment Certificates 2019 140,119 EDA Lease/Revenue Bond 2015 317,297 G.O. Tax Abatement Refunding Bond 2016C 301,570 G.O. Bond 2018A 481,799 Total Bonded Indebtedness: 2,122,762 TOTAL LEVIES $10,491,518 Adopted by the Council of the City of Lino Lakes this 23rd day of September, 2019.