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CITY OF LINO LAKES <br />RESOLUTION NO. 14-97 <br />RESOLUTION ADOPTING AND CERTIFYING THE PRELIMINARY 2014 TAX LEVY, <br />COLLECTIBLE IN 2015 <br />WHEREAS, Minnesota State Statutes grant local governments the authority to levy property taxes to <br />finance the operations of the Local jurisdiction; and, <br />WHEREAS, the City of Lino Lakes annually levies property taxes to finance General Fund operating <br />costs and annual debt service on outstanding indebtedness; and, <br />WHEREAS, the City Council of Lino Lakes has reviewed the proposed 2015 General Fund operating <br />budget and the preliminary 2014 tax levy collectible in 2015; and, <br />WHEREAS, the preliminary levy is the maximum that the City will levy for tax year 2014 collectible in <br />2015, and which may be lowered but cannot be increased before adopting the final tax levy; <br />and, <br />WHEREAS, the City Council must certify the preliminary 2015 tax levy collectible in 2015 to the <br />Anoka County Auditor by September 30, 2014. <br />NOW, THEREFORE, BE IT RESOLVED, that the City Council of the City of Lino Lakes, Anoka <br />County, Minnesota, hereby does levy on a preliminary basis the following upon taxable property in said <br />City of Lino Lakes: <br />1. Total amount levied in the year 2014 to be spread for taxes due and payable in the year <br />2015 is $9,166,966. <br />2. The total amount above levied is for the following purposes: <br />General Operating Levy $7,971,472 <br />General Bonded Debt <br />G.O. Improvement Refunding Bond 2005B <br />G.O. Tax Abatement Bonds 2006C 264,458 <br />G.O. CIP Refunding Bond 2006E 449,820 <br />G.O. Bonds 2012A 179,563 <br />Equipment Certificates of 2012 54,086 <br />Equipment Certificates of 2013 69,615 <br />Equipment Certificates of 2014 177.952 <br />Total General Obligation Bonded Debt 1.195.494 <br />TOTAL LEVIES $9,166,966 <br />Adopted by the Lino Lakes City Council this 8th day of September, 2014. <br />The motion for the adoption of the foregoing resolution was introduced by Council Member <br />Roeser and was duly seconded by Council Member Kusterman and upon vote being <br />taken thereon, the following voted in favor thereof: <br />Roeser, Kusterman, Reinert <br />