12/12/1994 Council Minutes - Laserfiche WebLink

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1 0 CITY COUNCIL MEETING DECEMBER 12, 1994 covered by the resolution could be paid at this time. Council Member Elliott moved to adopt Resolution No. 94 - 98 and dispense with the reading. Council Member Neal seconded the motion. Motion carried unanimously. Resolution No. 94 - 98 can be found at the end of these minutes. CONSIDERATION OF RESOLUTION NO. 94 - 96 ADOPTING THE FINAL 1995 GENERAL OPERATING BUDGET AND THE SEWER AND WATER BUDGETS FOR THE CITY OF LINO LAKES, RANDY SCHUMACHER Mr. Schumacher explained that pursuant to State Statute, a final 1995 General Fund revenue and expenditure budget must be adopted by the City Council. Also, per the 1994 utility rate study, a 1995 Sewer Revenue/Expenditure Budget and a 1995 Water Revenue/Expenditure Budget should also be adopted. Adoption of Resolution No. 94 - 96 which contains all the figures that were presented at the Truth in Taxation hearing, will bring the City into compliance with State Statutes and Charter requirements. Mr. Schumacher explained that the City was required to adopt a preliminary levy in September. That preliminary levy proposed a $100,000.00 increase. Since that time, the City Council has met several times to consider the 1995 Budget. The result is that the proposed levy was reduced by $50,000.00. This levy represents a tax rate increase of 2.8% Mr. Schumacher detailed items that are included in the budget. The final 1995 budget total is $3,601,584.00 and represents a balanced budget. Council Member Elliott moved to adopt Resolution No. 94 - 96 Adopting the Final 1995 General Operating Budget and the Sewer and Water Budgets for the City of Lino Lakes. Council Member Neal seconded the motion. Motion carried unanimously. Resolution No. 94 - 96 can be found at the end of these minutes. CONSIDERATION OF RESOLUTION NO. 94 - 97 CERTIFYING THE 1994 TAX LEVY, COLLECTABLE IN 1995, RANDY SCHUMACHER Pursuant to State Statute, a final 1994 collectable 1995 tax levy must be adopted. This levy is made up of an amount which includes the total of the General Operating levy, the Certificate of Indebtedness levies and the Public Project Revenue Bond levy. In September, the City Council adopted a preliminary levy of $2,684,350.00. The Council has since lowered the final levy to $2,634,350.00, which is a $50,000.00 decrease from the preliminary levy. The levy to be certified to Anoka County is as follows: PAGE 5 1