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• <br />, <br />7 <br />CITY OF LINO LAKES <br />RESOLUTION NO. 55 - 87 <br />RESOLUTION APPROVING, ESTABLISHING AND ADOPTING THE 1987 TAX LEVY, <br />COLLECTABLE IN 1988. <br />WHEREAS, the City of Lino Lakes is in need of certain funds to <br />pay expenses, obligations and operating costs anticip- <br />ated in the year 1988, and <br />WHEREAS, the City of Lino Lakes is restricted by levy limitat- <br />ions imposed upon it by the State of Minnesota, <br />NOW THEREFORE BE IT RESOLVED, that the City Council of the City of <br />Lino Lakes, Anoka County, Minnesota, hereby does levy the follow- <br />ing upon the taxable property in said City of Lino Lakes, to -wit: <br />1. Total amount levied in the year 1987 to be spread <br />for taxes due and payable in the year 1988 is in <br />the total sum of $1,146,850.00. <br />2. The amount above levied is for the purpose of <br />operational costs within the General Fund. <br />No bond and interest Levy is necessary for 1988 due to the surplus <br />in such particular funds. <br />BE IT FURTHER RESOLVED by the Lino Lakes City Council that the <br />budgets as reviewed by the respective departments and City Council <br />in numerous meetings, represent the basis for this. levy. Individ- <br />'ual department budgets are subject to final approval by the City <br />Council and shall be authorized by separate action prior to January <br />1, 1988. <br />Passed the 5th day of October <br />, 1987. <br />enjami G. Ben on, Mayor <br />Marlyn G. Anderson, Clerk- Treasurer <br />