12/14/1998 Council Minutes - Laserfiche WebLink

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Council Member Bergeson introduced the following resolution and moved its adoption: CITY OF LINO LAKES RESOLUTION NO. 98- 168 RESOLUTION CERTIFYING THE FINAL 1998 TAX LEVY, COLLECTABLE IN 1999. WHEREAS, the City of Lino Lakes is in need of certain funds to pay expenditures for General Fund operating costs anticipated in the year 1999, and WHEREAS, the City of Lino Lakes is in need of certain funds to pay expenses towards Certificate of Indebtedness obligations, and WHEREAS, the City of Lino Lakes is in need of certain funds to pay expenses towards the Public Project Revenue Bonds, Civic Complex Bonds, and Road Improvement Bonds, and WHEREAS, the City of Lino Lakes is restricted by levy limitations imposed by the State of Minnesota. NOW THEREFORE BE IT RESOLVED, that the City of Lino Lakes, Anoka County, Minnesota, hereby does levy on a final basis the following upon taxable property in said City of Lino Lakes, to -wit: 1. Total amount levied in the year 1998 to be spread for taxes due and payable in the year 1999 (without HACA) is $3,699,918. 2. The total amount above levied (without HACA) is for the following purposes: GENERAL OPERATING $2,926,261 General Bonded Debt Public Project Revenue Bonds of 1990 110,034 Civic Complex Bonds of 1998 252,284 Road Improvement Bonds of 1998 131,237 Equipment Certificates of 1996 79,278 Equipment Certificates of 1997 79,278 Equipment Certificates of 1998 121,546 Total General Obligation Bonded Debt $ 773,657 TOTAL LEVIES $3,699,918 BE IT FURTHER RESOLVED by the Lino Lakes City Council that the general fund operating budget and special levies for Public Project Revenue Bonds, Civic Complex Bonds, Road Improvement Bonds and Equipment Certificates as reviewed by the City Council represent the basis for this levy. Individual department budgets are subject to preliminary approval by the City Council and shall be authorized by separate action. • • •