09-27-2021 Council Packet - Laserfiche WebLink

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CITY OF LINO LAKES RESOLUTION NO. 21-99 RESOLUTION ADOPTING THE PRELIMINARY 2021 TAX LEVY, COLLECTIBLE IN 2022 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 operating costs and annual debt service on outstanding indebtedness; and, WHEREAS, the City Council of Lino Lakes has reviewed the proposed 2022 General Fund operating budget and the preliminary 2021 tax levy, collectible in 2022; and, WHEREAS, the preliminary levy is the maximum that the City will levy for tax year 2021, collectible in 2022, and which may be lowered but cannot be increased before adopting the final tax levy; and, WHEREAS, the City Council must certify the preliminary 2021 tax levy, collectible in 2022 to the Anoka County Auditor by September 30, 2021. 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 2021 to be spread for taxes due and payable in the year of 2022 is $11,869,044. 2. The total amount levied is for the following purposes: General Operating Levy $9,840,600 Bonded Indebtedness Equipment Certificates 2019 139,493 Equipment Certificates 2020 106,042 G.O. Bond 2012A 178,794 G.O. Bond 2015A 267,869 EDA Lease/Revenue Bond 2015 316,300 G.O. Tax Abatement Refunding Bond 2016C 325,054 G.O. Bond 2018A 485,212 G.O. Bond 2021A 209,680 Total Bonded Indebtedness: 2,028,444 TOTAL LEVIES 11,869,044 Adopted by the City Council of the City of Lino Lakes this 27th day of September, 2021.