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2005-139 Council Resolution
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2005-139 Council Resolution
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Last modified
9/12/2014 12:02:49 PM
Creation date
9/12/2014 11:36:31 AM
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City Council
Council Document Type
Master List Resolution
Meeting Date
09/13/2005
Council Meeting Type
Regular
Resolution #
05-139
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EXHIBIT A <br />FORM OF NOTICE <br />NOTICE OF ELECTION <br />CITY OF LINO LAKES, MINNESOTA <br />NOTICE IS HEREBY GIVEN, that an election has been called and will be held in and <br />for the CITY OF LINO LAKES, State of Minnesota, on Tuesday, November 8, 2005, for the <br />purpose of voting on the following question: <br />INSTRUCTIONS TO VOTERS: To vote for a question, fill in the oval next to the word "YES" <br />for that question. To vote against a question, fill in the oval next to the word "NO" for that <br />question. <br />CITY QUESTION NO. 1: <br />FINANCING OF STREET PROJECT AND LEVYING OF TAXES <br />The City Council of the City of Lino Lakes is considering the improvement and <br />reconstruction of certain streets in the City, as described in the West Shadow Lake Drive Area <br />Feasibility Study, dated June 3, 2005, referred to as the 2007 Street Reconstruction Project. The <br />total cost of the 2007 Street Reconstruction Project is estimated to be $4,800,740. <br />Approximately 52.7% of the cost is proposed to be paid by levying special assessments against <br />the benefited property abutting the relevant streets, including property owned by the City, in <br />accordance with standard City assessment policies. Approximately 47.3% of the cost is proposed <br />to paid by City utility funds and the City general fund, including revenues from a property tax <br />levied against all property in the City. The City . Charter requires voter approval before <br />undertaking a local improvement financed in part by the general fund. <br />SHOULD THE CITY OF LINO LAKES BE AUTHORIZED TO UNDERTAKE THE <br />2007 STREET RECONSTRUCTION PROJECT, AND TO PAY APPROXIMATELY <br />52.7% OF THE COST FROM SPECIAL ASSESSMENTS LEVIED ACCORDING TO <br />CITY POLICIES AND 47.3% OF THE COST FROM THE CITY GENERAL FUND <br />INCLUDING REVENUES FROM A LEVY ON ALL TAXABLE PROPERTY IN THE <br />CITY? <br />BY VOTING "YES" ON THIS BALLOT QUESTION, YOU ARE VOTING FOR A <br />PROPERTY TAX INCREASE. <br />The amount of taxes that would be raised in the first year of the property tax levy to pay a portion of <br />the cost of the 2007 Street Reconstruction Project is estimated to be approximately $241,000. The <br />maximum amount of increased levy is estimated to be approximately .016% of the taxable market <br />value of property in the city. <br />YES <br />ONO <br />SJB- 267969v1 <br />LN140 -94 <br />A -1 <br />-119E- <br />
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