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• • • CITY OF LINO LAKES RESOLUTION NO. 04-132 RESOLUTION ADOPTING AND CERTIFYING THE PRELIMINARY 2004 TAX LEVY, COLLECTIBLE IN 2005 WHEREAS, Minnesota State Statutes grant local governments 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 2005 General Fund operating budget and the preliminary 2004 tax levy collectible in 2005; and, WHEREAS, the preliminary levy is the maximum that the City will levy for tax year 2004 collectible in 2005, and which may be lowered but cannot be increased before adopting the final tax levy; and, WHEREAS, the City Council must certify the preliminary 2004 tax levy collectible in 2005 to the Anoka County Auditor by September 15, 2004. 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 2004 to be spread for taxes due and payable in the year 2005 is $7,269,302. 2. The total amount above levied is for the following purposes: General Operating Levy $6,215,313 Special Levies Increased PERA Contribution 8,898 Tax Abatement — Target & Kohl's 118,000 General Bonded Debt Public Project Revenue Bond Civic Complex Bond 1998A G.O. Improvement Bond 1998B G.O. Improvement Bond 2003B Equipment Certificates of 2002 Equipment Certificates of 2003A Equipment Certificates of 2003B Equipment Certificates of 2004 Total General Obligation Bonded Debt TOTAL LEVIES Adopted by the Lino Lakes City Council this 13th day of Se ember, 2004. Ann J. r, City Clerk 135,479 332,525 151,072 23,668 50,085 52,605 74,550 107,107 927,091 $7.269,302 Johra(/J. Berge ,•T, May