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2008 Annual Budget Adopted
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2008 Annual Budget Adopted
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2008 Annual Budget Adopted
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Council Member Stoltz introduced the following resolution and moved its adoption: <br />CITY OF LINO LAKES <br />RESOLUTION NO. 07 -208 <br />— <br />RESOLUTION ADOPTING THE FINAL 2007 TAX LEVY, COLLECTIBLE IN 2008 <br />— WHEREAS, the City of Lino Lakes has budgeted to pay expenditures for General Fund <br />operating costs anticipated in the year 2008; and, <br />— <br />outstanding indebtedness; and, <br />WHEREAS, the City of Lino Lakes has budgeted to pay the annual debt service on <br />WHEREAS, the City Council adopted its preliminary 2007 tax levy, collectible in 2008, in <br />_. anticipation of the above expenses; and, <br />WHEREAS, the City Council has published in the official newspaper all notices required by <br />Minnesota statutes and the City Charter; and, <br />WHEREAS, the City Council held its Truth in Taxation public hearing on December 10, 2007. <br />— NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Lino Lakes, Anoka <br />County, Minnesota, approves its final 2007 tax levy, collectible in 2008, upon taxable property <br />within the City of Lino Lakes as follows: <br />Maw <br />IMO <br />NNW <br />IMMO <br />IMMO <br />1. Total amount levied in the year 2007 to be spread for taxes due and payable in <br />the year 2008 is $8,866,956. <br />2. The total amount above levied is for the following purposes: <br />General Operating Lew $7,903,122 <br />Special Levies <br />Tax Abatement <br />112,557 <br />General Bonded Debt <br />Public Project Revenue Bond 109,557 <br />Civic Complex Bond 1998A 191,213 <br />G.O. Improvement Bond 2003B 20,741 <br />G.O. Improvement Refunding Bond 2005B 108,041 <br />G.O. Tax Abatement Bond 2006C 66,148 <br />G.O. Capital Improvement Plan Refunding Bond 2006E 125,580 <br />Equipment Certificates of 2005 40,404 <br />Equipment Certificates of 2006 122,603 <br />Equipment Certificates of 2007 66,990 <br />Total General Obligation Bonded Debt 851,277 <br />TOTAL LEVIES $8,866.956 <br />Adopted by the Lino Lakes City Council this 17th day of December, 2007. <br />The motion for the adoption of the foregoing resolution was duly seconded by Council Member <br />Carlson and upon vote being taken thereon, the following voted in favor thereof: <br />— Mayor Bergeson, Councilmembers Carlson, Reinert, O'Donnell, Stoltz <br />
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