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1997 Annual Budget Adopted
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1997 Annual Budget Adopted
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Council member Neal introduced the following resolution and moved its adoption: <br />CITY OF LINO LAKES <br />RESOLUTION NO. 96 -159 <br />RESOLUTION CERTIFYING THE FINAL 1996 TAX LEVY, COLLECTABLE IN 1997. <br />WHEREAS, the City of Lino Lakes is in need of certain funds to pay expenditures for General Fund <br />operating costs anticipated in the year 1997, and <br />WHEREAS, the City of Lino Lakes is in need of certain funds to pay expenses towards Certificate of <br />Indebtedness obligations, and <br />WHEREAS, the City of Lino Lakes is in need of certain funds to pay expenses towards the Public Project <br />Revenue Bonds, and <br />WHEREAS, the City of Lino Lakes is not restricted by levy limitations imposed by the State of Minnesota. <br />NOW THEREFORE BE IT RESOLVED, that the City of Lino Lakes, Anoka County, Minnesota, hereby does <br />levy on a proposed basis the following upon taxable property in said City of Lino Lakes, to -wit: <br />1. Total amount levied in the year 1996 to be spread for taxes due and payable in the year <br />1997 (including HACA) is the total sum of $3,349,400. <br />2. The total amount above levied is for the following purposes: <br />GENERAL OPERATING <br />General Bonded Debt <br />Public Project Revenue Bonds <br />Equipment Certificates of 1995 <br />Equipment Certificates of 1996 <br />Total General Obligation Bonded Debt <br />TOTAL LEVIES <br />$3,027,448 <br />118,112 <br />97,944 <br />105,896 <br />$ 321,952 <br />$3,349,400 <br />BE IT FURTHER RESOLVED by the Lino Lakes City Council that the general fund operating budget and <br />special levies for Equipment Certificates and the Public Project Revenue Bonds as reviewed by the City <br />Council represents the basis for this levy Individual department budgets are subject to final approval by the <br />City Council and shall be authorized by separate action. <br />LET IT BE FURTHER RESOLVED that the total levy will be certified to the County of Anoka less the certified <br />. amount of Homestead and Agriculture Credit Aid (HACA) for payable 1997. <br />Total Levy <br />Less Total HACA <br />$3,349,400 <br />(421,891) <br />Total Levy less HACA $2,927,509 <br />A -3 <br />
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