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i <br /> TRUTH IN TAXATION HEARING NOVEMBER 30, 1998 <br /> Mr. Farm said that it appears that the largest budget increase is in bonded debt. He <br /> suggested that 24% increase compounded is a big"bite". <br /> There being no further comments from the audience, Council Member Neal moved to <br /> close the public hearing at 6:39 p.m. Council Member Bergeson seconded the motion. <br /> Motion carried unanimously. <br /> Mayor Sullivan told the audience that the City Council will be discussing the budget at <br /> the regular work session scheduled for Wednesday, December 9, 1998. Final approval of <br /> the 1999 budget and tax levy is expected on December 14, 1998. <br /> Council Member Bergeson asked what the increase in property tax revenue is due to the <br /> increase in value of existing properties. He also asked for the increase in property tax <br /> revenue due to new residential and commercial development. <br /> Council Member Neal noted that there are three (3) schools in Lino Lakes as well as the <br /> prison and the Rice Creek Regional Park. These facilities do not pay taxes but require the <br /> services of both the Police Department and the Centennial Fire Department. He noted that <br /> the City can now tax these entities for those services. <br /> Council Member Dahl moved to adjourn at 6:43 p.m. Council Member Neal seconded the <br /> motion. Aye. <br /> These minutes were considered, corrected and approved at the regular December 21, 1998 <br /> Council meeting. <br /> Marilyn G. Anderson, Clerk-Treasurer *erlul ivan,Mayor <br /> PAGE 4 <br />