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• <br />CITY OF LINO LAKES <br />RESOLUTION NO. 03 -146 <br />RESOLUTION ADOPTING AND CERTIFYING THE PRELIMINARY 2003 TAX LEVY, COLLECTIBLE IN <br />2004 <br />WHEREAS, Minnesota State Statutes grant local governments the authority to levy property taxes to <br />finance the operations of the local jurisdiction; and, <br />WHEREAS, the City of Lino Lakes annually levies property taxes to finance General Fund operating <br />costs and annual debt service on outstanding indebtedness; and, <br />WHEREAS, the Minnesota State Legislature during the 2003 legislative session cut 100% of Local <br />Government Aid and Market Value Homestead Credit Aid that the City was to receive for <br />2003 and 2004, amounting to $546,816; and, <br />WHEREAS, the Minnesota State Legislature has restricted general tax levies to the amounts levied for <br />2002/03, but has allowed cities to include in their 2003/04 tax levies 60% of lost Local <br />Government Aid and Market Value Homestead Credit Aid; and, <br />WHEREAS, to avoid a sever reduction in city services the 60% of lost Local Government Aid and Market <br />Value Homestead Credit Aid has been incorporated into the preliminary 2003/04 tax levy; <br />and, <br />WHEREAS, the City Council of Lino Lakes has reviewed the proposed 2004 General Fund operating <br />budget and the preliminary 2003 tax levy collectible in 2004; and, <br />• WHEREAS, the preliminary levy is the maximum that the City will levy for tax year 2003 collectible in <br />2004, and which may be lowered but cannot be increased before adopting the final tax levy; <br />and, <br />WHEREAS, the City Council must certify the preliminary 2003 tax levy collectible in 2004 to the Anoka <br />County Auditor by September 15, 2003. <br />NOW, THEREFORE, BE IT RESOLVED, that the City Council of the City of Lino Lakes, Anoka County, <br />Minnesota, hereby does levy on a preliminary basis the following upon taxable property in said City of Lino <br />Lakes: <br />1 Total amount levied in the year 2003 to be spread for taxes due and payable in the year <br />2004 is $6,550,620. <br />2. The total amount above levied is for the following purposes: <br />General Operating Levy $5,500,866 <br />