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2007 Annual Budget Adopted
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2007 Annual Budget Adopted
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2007 Annual Budget Adopted
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Council Member O'Donnell introduced the following resolution and moved its adoption: <br />Plmo <br />CITY OF LINO LAKES <br />RESOLUTION NO. 06 -208 <br />RESOLUTION ADOPTING THE FINAL 2006 TAX LEVY, COLLECTIBLE IN 2007 <br />IMMO <br />WHEREAS, the City of Lino Lakes has budgeted to pay expenditures for General Fund <br />operating costs anticipated in the year 2007; and, <br />WHEREAS, the City of Lino Lakes has budgeted to pay the annual debt service on <br />outstanding indebtedness; and, <br />WHEREAS, the City Council adopted its preliminary 2006 tax levy, collectible in 2007, 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 11, 2006. <br />NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Lino Lakes, Anoka <br />County, Minnesota, approves its final 2006 tax levy, collectible in 2007, upon taxable property <br />within the City of Lino Lakes as follows: <br />1. Total amount levied in the year 2006 to be spread for taxes due and payable in <br />the year 2007 is $8,456,328. <br />2. The total amount above levied is for the following purposes: <br />General Operating Levy $7,430,427 <br />Special Levies <br />Tax Abatement <br />128,568 <br />General Bonded Debt <br />Public Project Revenue Bond 119,952 <br />Civic Complex Bond 1998A 177,056 <br />G.O. Improvement Bond 2003B 21,844 <br />G.O. Improvement Refunding Bond 2005B 97,152 <br />G.O. Tax Abatement Bond 2006C 86,656 <br />G.O. Capital Improvement Plan Refunding Bond 2006E 125,580 <br />Equipment Certificates of 2004 107,016 <br />Equipment Certificates of 2005 39,774 <br />Equipment Certificates of 2006 122,303 <br />Total General Obligation Bonded Debt 897,333 <br />TOTAL LEVIES $8.456.328 <br />Adopted by the Lino Lakes City Council this 18th day of December, 2006. <br />The motion for the adoption of the foregoing resolution was duly seconded by Council Member <br />Stoltz and upon vote being taken thereon, the following voted in favor thereof: Mayor <br />Bergeson, Council Members Reinert, Stoltz, O'Donnell. <br />A -1 <br />
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