09-26-2022 City Council Packet - Laserfiche WebLink

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CITY OF LINO LAKES RESOLUTION NO.22-110 ADOPTING THE PRELIMINARY 2022 TAX LEVY, COLLECTIBLE IN 2023 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 2023 General Fund operating budget and the preliminary 2022 tax levy, collectible in 2023; and, WHEREAS, the preliminary levy is the maximum that the City will levy for tax year 2022, collectible in 2023, and which may be lowered but cannot be increased before adopting the final tax levy; and, WHEREAS, the City Council must certify the preliminary 2022 tax levy, collectible in 2023 to the Anoka County Auditor by September 30, 2022. 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: Total amount levied in the year 2022 to be spread for taxes due and payable in the year of 2023 is $12,967,057. 2. The total amount levied is for the following purposes: Operating Levy $11,392,673 Bonded Indebtedness Equipment Certificates 2020 106,299 G.O. Bond 2012A 176,109 G.O. Bond 2015A 273,959 EDA Lease/Revenue Bond 2015 320,815 G.O. Bond 2018A 485,737 G.O. Bond 2021A 211,465 Total Bonded Indebtedness: 1,574,384 TOTAL LEVIES 12.967.057 Adopted by the City Council of the City of Lino Lakes this 26rh day of September, 2022.