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TRUTH IN TAXATION HEARING NOVEMBER 30, 1998 <br />Mr. Farm said that it appears that the largest budget increase is in bonded debt. He <br />suggested that 24% increase compounded is a big "bite". <br />There being no further comments from the audience, Council Member Neal moved to <br />close the public hearing at 6:39 p.m. Council Member Bergeson seconded the motion. <br />Motion carried unanimously. <br />Mayor Sullivan told the audience that the City Council will be discussing the budget at <br />the regular work session scheduled for Wednesday, December 9, 1998. Final approval of <br />the 1999 budget and tax levy is expected on December 14, 1998. <br />Council Member Bergeson asked what the increase in property tax revenue is due to the <br />increase in value of existing properties. He also asked for the increase in property tax <br />revenue due to new residential and commercial development. <br />Council Member Neal noted that there are three (3) schools in Lino Lakes as well as the <br />prison and the Rice Creek Regional Park. These facilities do not pay taxes but require the <br />services of both the Police Department and the Centennial Fire Department. He noted that <br />the City can now tax these entities for those services. <br />Council Member Dahl moved to adjourn at 6:43 p.m. Council Member Neal seconded the <br />motion. Aye. <br />These minutes were considered, corrected and approved at the regular December 21, 1998 <br />Council meeting. <br />(-11/ ((A\ tAW)i <br />Marilyn G. An erson, Clerk -Treasurer <br />PAGE 4 <br />Sul ivan, Mayor <br />• <br />