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• CITY OF LINO LAKES RESOLUTION NO. 20-108 RESOLUTION ADOPTING THE PRELIMINARY 2020 TAX LEVY, COLLECTIBLE IN 2021 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 2021 General Fund operating budget and the preliminary 2020 tax levy, collectible in 2021; and, WHEREAS, the preliminary levy is the maximum that the City will levy for tax year 2020, collectible in 2021, and which may be lowered but cannot be increased before adopting the final tax levy; and, WHEREAS, the City Council must certify the preliminary 2020 tax levy, collectible in 2021 to the Anoka County Auditor by September 30, 2020. 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 2020 to be spread for taxes due and payable in the year of 2021 is $11,141,815. 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 2018 Equipment Certificates 2019 Equipment Certificates 2020 EDA Lease/Revenue Bond 2015 G.O. Tax Abatement Refunding Bond 2016C G.O. Bond 2018A Total Bonded Indebtedness: TOTAL LEVIES $9,232,367 175,896 266,923 106,050 140,307 105,929 316,877 313,567 483,899 1,909,448 $11,141,815 Adopted by the Council of the City of Lino Lakes this 28th day of September, 2020.