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1998 Annual Budget Adopted
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1998 Annual Budget Adopted
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1998 Annual Budget Adopted
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MIND <br />Immo <br />Council member <br />Bergeson introduced the following resolution and moved its adoption: <br />CITY OF LINO LAKES <br />RESOLUTION NO. 97 -171 <br />RESOLUTION CERTIFYING THE FINAL 1997 TAX LEVY, COLLECTABLE IN 1998. <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 1998, 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 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 final basis the following upon taxable property in said City of Lino Lakes, to -wit: <br />1. Total amount levied in the year 1997 to be spread for taxes due and payable in the year <br />1998 (without HACA) is $3,167,823. <br />2. The total amount above levied (without HACA) is for the following purposes: <br />GENERAL OPERATING $2,889,626 <br />General Bonded Debt <br />Public Project Revenue Bonds 111,085 <br />Equipment Certificates of 1996 73,663 <br />Equipment Certificates of 1997 93,449 <br />Total General Obligation Bonded Debt $ 278,197 <br />TOTAL LEVIES $3,167,823 <br />BE IT FURTHER RESOLVED by the Lino Lakes City Council that the general fund operating budget and <br />special levies for Equipment Certificates, Public Project Revenue Bonds as reviewed by the City Council <br />represents the basis for this levy. Individual department budgets are subject to preliminary approval by the <br />City Council and shall be authorized by separate action. <br />Adopted by the Lino Lakes City Council this 15th day of December, 1997. <br />
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