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Council Member introduced the following resolution and moved its adoption: CITY OF LINO LAKES COUNTY OF ANOKA RESOLUTION NO. 10-78 RESOLUTION ADOPTING AND CERTIFYING THE PRELIMINARY 2010 TAX LEVY, COLLECTIBLE IN 2011 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 Fund operating costs and annual debt service on outstanding indebtedness; and, WHEREAS, the City Council of Lino Lakes has reviewed the proposed 2011 General Fund operating budget and the preliminary 2010 tax levy collectible in 2011; and, WHEREAS, the preliminary levy is the maximum that the City will levy for tax year 2010 collectible in 2011, and which may be lowered but cannot be increased before adopting the final tax levy; and, WHEREAS, the City Council must certify the preliminary 2010 tax levy collectible in 2011 to the Anoka County Auditor by September 15, 2010. NOW, THEREFORE, BE IT RESOLVED, that the City Council of the City of Lino Lakes, Anoka County, 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 2010 to be spread for taxes due and payable in the year 2011 is $8,660,000. 2. The total amount above levied is for the following purposes: General Operating Levy $7,675,424 Special Levies PERA Employer Contribution 43,816 General Bonded Debt G.O. Improvement Bond 2003B 21,917 G.O. Improvement Refunding Bond 2005B 124,172 G.O. Tax Abatement Bonds 2006C 196,581 G.O. CIP Refunding Bond 2006E 325,410 Equipment Certificates of 2008 80,808 Equipment Certificates of 2009 127,008 Equipment Certificates of 2010 64,864 Total General Obligation Bonded Debt 940,760 TOTAL LEVIES $8.660.000 Page 29A — 29B •