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AGENDA ITEM 4A <br />STAFF ORIGINATOR Al Rolek <br />DATE December 6, 2000 <br />TOPIC Consideration of Resolution No. 00- adopting the Final 2000 <br />Tax Levy, collectable in 2001. <br />Simple Majority <br />VOTE REQUIRED <br />BACKGROUND <br />Truth in Taxation requires the City of Lino Lakes to adopt and certify a final 2000 tax levy, <br />collectable in 2001 on or before December 28th of each year. <br />The total levy includes dollars for the general operating budget as well as dollars for <br />general bonded debt. The final levy for general purposes has been reduced from the <br />amount approved in the proposed levy. This reduction results in a tax rate for 2001 that is <br />the same as in 2000. <br />A Truth in Taxation public hearing was held on the tax levy on December 4 and continued <br />to December 11. Tax levy information was presented and discussed during the public <br />hearing and public testimony was received. <br />The City Council needs to take final action on the tax levy at this time. Staff <br />recommendation is to adopt Resolution 00 -122 approving the final 2000 Tax Levy, <br />collectible in 2001. <br />OPTIONS'. <br />1. Approve Resolution No. 00 -122 adopting the final 2000 tax levy, collectable in 2001. <br />2. Deny Resolution No. 00 -122. <br />RECOMMENDATION <br />Option 1 <br />• <br />