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• <br />• <br />• <br />AGENDA ITEM 2B <br />STAFF ORIGINATOR Al Rolek <br />DATE December 18, 2006 <br />TOPIC Consideration of Resolution No. 06 -208 adopting the Final <br />2006 Tax Levy, Collectible in 2007. <br />Simple Majority <br />VOTE REQUIRED <br />Truth in Taxation legislation requires the City of Lino Lakes to adopt and certify a final 2006 <br />tax levy, collectible in 2007 on or before December 28th. <br />The total levy includes dollars for the general operating budget as well as dollars for special <br />levies for tax abatement and general bonded debt. The levy provides resources for salary <br />and wage adjustments, capital outlay and equipment replacement, street and Storm <br />Drainage maintenance and a contingency for unforeseen emergencies. The levy is <br />reduced from the amount proposed and adopted in September of this year due to the <br />refinancing of the Civic Center bond issue. <br />A Truth in Taxation public hearing was held on the tax levy on December 11. Tax levy <br />information was presented and discussed during the public hearing and public testimony <br />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 06 -208 approving the final 2006 Tax Levy, <br />collectible in 2007. <br />1. Approve Resolution No. 06 -208 adopting the final 2006 tax levy, collectible in 2007. <br />2. Refer to Staff for further review. <br />3. Deny Resolution No. 06 -208. <br />Option 1 <br />A -1 <br />-31- <br />