09/11/2006 Council Packet - Laserfiche WebLink

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• • • adoption: Council Member introduced the following resolution and moved its CITY OF LINO LAKES COUNTY OF ANOKA RESOLUTION NO. 06 -143 RESOLUTION ADOPTING AND CERTIFYING THE PRELIMINARY 2006 TAX LEVY, COLLECTIBLE IN 2007 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 2007 General Fund operating budget and the preliminary 2006 tax levy collectible in 2007; and, WHEREAS, the preliminary levy is the maximum that the City will levy for tax year 2006 collectible in 2007, and which may be lowered but cannot be increased before adopting the final tax levy; and, WHEREAS, the City Council must certify the preliminary 2006 tax levy collectible in 2007 to the Anoka County Auditor by September 15, 2006. 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 2007 to be spread for taxes due and payable in the year 2007 is $8,506,723. 2. The total amount above levied is for the following purposes: General Operating Levy $7,430,427 Special Levies Tax Abatement — Target & Kohl's 128,568 General Bonded Debt Public Project Revenue Bond 119,952 Civic Complex Bond 1998A 353,031 G.O. Improvement Bond 2003B 21,844 G.O. Improvement Refunding Bond 2005B 97,152 G.O. Tax Abatement Bond 2006B 86,656 Equipment Certificates of 2004 107,016 Equipment Certificates of 2005 39,774 Equipment Certificates of 2005 122,303 Total General Obligation Bonded Debt 947,728 TOTAL LEVIES $8.506.723 Julianne Bartell, City Clerk John J. Bergeson, Mayor —44e-