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AGENDA ITEM 3B <br />STAFF ORIGINATOR Al Rolek <br />DATE December 10, 2001 <br />TOPIC Consideration of Resolution No. 01-191 adopting the Final <br />2001 Tax Levy, collectable in 2002. <br />Simple Majority <br />VOTE REQUIRED <br />BACKGROUND <br />Truth in Taxation requires the City of Lino Lakes to adopt and certify a final 2001 tax levy, <br />collectable in 2002 on or before December 28th of each year. <br />The total levy includes dollars for the general operating budget as well as dollars for <br />general bonded debt. The elimination of Homestead and Agriculture Credit Aid (HACA) <br />growth factors, settlement of collective bargaining agreements, new state mandates and <br />new initiatives in capital planning being undertaken by the City all had profound affects on <br />the preliminary levy adopted in September. The final levy presented this evening has been <br />reduced $3,650 from the amount approved in the proposed levy as a result of a review of <br />the PERA special levy. The remaining levies are the same as adopted in September. <br />A Truth in Taxation public hearing was held on the tax levy on December 10. 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 01-191 approving the final 2001 Tax Levy, <br />collectible in 2002. <br />OPTIONS <br />1. Approve Resolution No. 01-191 adopting the final 2001 tax levy, collectable in 2002. <br />2. Refer to Staff for further review. <br />3. Deny Resolution No. 01-191. <br />RECOMMENDATION <br />Option 1 <br />A-2 <br />