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CITY OF LINO LAKES <br />RESOLUTION NO. 02-105 <br />RESOLUTION ADOPTING AND CERTIFYING THE PRELIMINARY 2002 TAX LEVY, COLLECTIBLE IN <br />2003. <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 2003 General Fund operating <br />budget and the preliminary 2002 tax levy collectible in 2003; and, <br />WHEREAS, the preliminary levy is the maximum that the City will levy for tax year 2002 collectible in <br />2003, 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 2002 tax levy collectible in 2003 to the Anoka <br />County Auditor by September 16, 2002. <br />NOW, THEREFORE, BE IT RESOLVED, that the City Council of the City of Lino Lakes, Anoka County, <br />Minnesota, hereby does levy on a preliminary basis the following upon taxable property in said City of Lino <br />Lakes: <br />1. Total amount levied in the year 2002 to be spread for taxes due and payable in the year <br />2003 is $6,124,621. <br />2. The total amount above levied is for the following purposes: <br />General Operating Levy <br />Special Levies <br />Increased PERA Contribution <br />$5,172,776 <br />8,156 <br />General Bonded Debt <br />Public Project Revenue Bond 123,955 <br />Civic Complex Bond 1998A 345,959 <br />G.O. Improvement Bond 1998B 153,192 <br />Equipment Certificates of 2000 120,705 <br />Equipment Certificates of 2001 130,473 <br />Equipment Certificates of 2002 69,405 <br />Total General Obligation Bonded Debt 943,689 <br />TOTAL LEVIES $6 124 621 <br />Adopted by the Lino Lakes City Council this 9th day of September, 2002. <br />isk <br />t <br />Ann J. Blair, Citi Clerk <br />. <br />John•� <br />Berge n, Ma :r <br />