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232 <br />COUNCIL MEETING SEPTEMBER 14, 1992 <br />Council Member Kuether seconded the motion. Motion carried <br />unanimously. <br />CONSIDERATION OF SETTING A PUBLIC HEARING FOR TRUTH IN TAXATION <br />PUBLIC HEARING <br />The Truth in Taxation law requires cities to hold a budget public <br />hearing for property taxes payable in the year 1993. The dates <br />for this hearing cannot conflict with the public hearing dates <br />and continuation dates set by the county and the school districts <br />located in each city. The hearings must be held between November <br />30, 1992 and December 21, 1992. The proposed public hearing <br />dates for the City of Lino Lakes are December 10, 1992 and <br />December 17, 1992 as the continuation hearing date. <br />Council Member Elliott moved to set the public hearing dates as <br />noted above. Council Member Kuether seconded the motion. Motion <br />carried unanimously. <br />Resolution No. 92 - 119 Certifying the Preliminary 1992 Tax Levy <br />Collectable in 1993 - Pursuant to state statute, a preliminary <br />1992, collectable 1993 tax levy must be adopted by the City <br />Council on or before September 15, 1992. The preliminary tax <br />levy is made up of an amount which includes the total of the <br />general levy, the certificate of indebtedness levies and the <br />public revenue bond levy. This amount is a preliminary levy <br />which is the maximum levy the City may be allowed to set. The <br />final levy certified by the City may be less than the preliminary <br />levy amount, but may not exceed the amount of this preliminary <br />levy. <br />Mayor Reinert expressed concern that the residents may not <br />understand that the preliminary levy will not be the actual <br />amount certified for the 1993 taxes. He asked that an insert be <br />added to the newsletter outlining what a preliminary levy is and <br />that this is mandated by state statutes. <br />Council Member Elliott moved to adopt Resolution No. 92 - 119. <br />Council Member Bergeson seconded the motion. Motion carried <br />unanimously. <br />Resolution No. 92 - 119 can be found at the end of these minutes. <br />Resolution No. 92 - 120 Adopting the Preliminary 1993 Annual <br />Operating Budget for the City of Lino Lakes - Pursuant to state <br />statutes, a preliminary 1993 General Fund revenue and expenditure <br />budget must be adopted on or before September 15, 1992. Council <br />work sessions will be set to review and revise the preliminary <br />budget. The final 1993 budget will be adopted at the December <br />10, 1992 budget hearing. <br />PAGE 13 <br />1 <br />1 <br />