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CITY OF LINO LAKES <br />RESOLUTION NO. 20-154 <br />RESOLUTION ADOPTING THE FINAL 2020 TAX LEVY, COLLECTIBLE IN 2021 <br />WHEREAS, the City of Lino Lakes has budgeted to pay expenditures for General Fund <br />operating costs anticipated in the year 2021, and <br />WHEREAS, the City of Lino Lakes has budgeted to pay the annual debt service on outstanding <br />indebtedness, and <br />WHEREAS, the City Council adopted its preliminary 2020 tax levy, collectible in 2021, in <br />anticipation of the above expenses, and <br />WHEREAS, the City Council has published in the official newspaper all notices required by <br />Minnesota State Statutes and the City Charter, and <br />WHEREAS, the City Council held its public hearing on December 14, 2020. <br />NOW, THEREFORE BE IT RESOLVED that The City Council of The City of Lino Lakes, <br />approves its final 2020 tax levy, collectible in 2021, upon taxable property within the City of <br />Lino Lakes as follows: <br />1. Total amount levied in the year 2020 to be spread for taxes due and payable in the year <br />2021 is $11,141,815. <br />2. The total amount levied above is for the following purposes: <br />General Operating Levy $9,232,367 <br />Bonded Indebtedness <br />G.O. Bond 2012A 175,896 <br />G.O. Bond 2015A 266,923 <br />EDA Lease/Revenue Bond 2015 316,877 <br />G.O. Tax Abatement Refunding Bonds 2016C 313,567 <br />G.O. Bond 2018A 483,899 <br />Equipment Certificates 2018 106,050 <br />Equipment Certificates 2019 140,307 <br />Equipment Certificates 2020 105,929 <br />Total Bonded Indebtedness: $1,909,448 <br />TOTAL LEVIES $11,141,815 <br />Adopted by the Council of the City of Lino Lakes this 14th day of December, 2020. <br />The motion for the adoption of the foregoing resolution was introduced by Council Member <br />Cavegn and was duly seconded by Council Member Stoesz and upon <br />vote being taken thereon, the following voted in favor thereof: <br />Stoesz, Ruhland, Lyden, Cavegn, Rafferty <br />