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• <br />• <br />• <br />AGENDA ITEM 3A <br />STAFF ORIGINATOR Al Rolek <br />DATE December 15, 2003 <br />TOPIC Consideration of Resolution No. 03-222 adopting the Final <br />2003 Tax Levy, collectable in 2004. <br />Simple Majority <br />VOTE REQUIRED <br />BACKGROUND <br />Truth in Taxation requires the City of Lino Lakes to adopt and certify a final 2003 tax levy, <br />collectable in 2004 on or before December 29th. <br />The total levy includes dollars for the general operating budget as well as dollars for special <br />levies for PERA, tax abatement and general bonded debt. The levy recovers 60% of state <br />aids cut by the 2003 state legislature, and provides resources for salary and wage <br />adjustments, capital outlay and equipment replacement and a contingency for unforeseen <br />emergencies. The levy remains the same as proposed and adopted in September of this <br />year. <br />A Truth in Taxation public hearing was held on the tax levy on December 8. Tax levy <br />information was presented and discussed during the public hearing and public testimony <br />was received. <br />The City Council needs to take final action on the tax levy at this time. Staff <br />recommendation is to adopt Resolution 03-222 approving the final 2003 Tax Levy, <br />collectible in 2004. <br />OPTIONS <br />1. Approve Resolution No. 03-222 adopting the final 2003 tax levy, collectable in 2004. <br />2. Refer to Staff for further review. <br />3. Deny Resolution No. 03-222. <br />RECOMMENDATION; <br />Option 1 <br />