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CITY OF LINO LAKES RESOLUTION NO. 05-131 RESOLUTION ADOPTING AND CERTIFYING THE PRELIMINARY 2005 TAX LEVY, COLLECTIBLE IN 2006 WHEREAS, Minnesota State Statutes grant local govemments the authority to levy property taxes to finance the operations of the local jurisdiction; and, WHEREAS, the City of Lino Lakes annually levies property taxes to finance General Fund operating costs and annual debt service on outstanding indebtedness; and, WHEREAS, the City Council of Lino Lakes has reviewed the proposed 2006 General Fund operating budget and the preliminary 2005 tax levy collectible in 2006; and, WHEREAS, the preliminary levy is the maximum that the City will levy for tax year 2005 collectible in 2006, and which may be lowered but cannot be increased before adopting the final tax levy; and, WHEREAS, the City Council must certify the preliminary 2005 tax levy collectible in 2006 to the Anoka County Auditor by September 15, 2005. NOW, THEREFORE, BE IT RESOLVED, that the City Council of the City of Lino Lakes, Anoka County, Minnesota, hereby does levy on a preliminary basis the following upon taxable property in said City of Lino Lakes: 1. Total amount levied in the year 2005 to be spread for taxes due and payable in the year 2006 is $7,976,907. 2. The total amount above levied is for the following purposes: General Operatinca Lew $6,912,873 Special Levies Increased PERA Contribution 9,343 Tax Abatement — Target & Kohl's 120,410 General Bonded Debt Public Project Revenue Bond Civic Complex Bond 1998A G.O. Improvement Bond 1998B G.O. Improvement Bond 2003B Equipment Certificates of 2003A Equipment Certificates of 2003B Equipment Certificates of 2004 Equipment Certificates of 2005 Total General Obligation Bonded Debt TOTAL LEVIES Adopted by the Lino Lakes City Council this 13th day of September, 200$.. Jea ig = , Deputy City C rk 124,992 343,382 152,519 22,828 44,520 92,820 107,856 45.364 934,281 $7,976,907 -29B-