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Council member Reinert introduced the following resolution <br />and moved its adoption: <br />CITY OF LINO LAKES <br />RESOLUTION NO. 86 - 90 <br />RESOLUTION CERTIFYING THE FINAL 1990 TAX LEVY, COLLECTABLE IN <br />1991. <br />WHEREAS, the City of Lino Lakes is in need of certain funds <br />to pay expenses, obligations for General Fund <br />operating costs anticipated in the year 1991, and <br />WHEREAS, the City of Lino Lakes is in need of certain funds <br />to pay expenses towards Certificate of Indebtedness' <br />obligations, <br />WHEREAS, the City of Lino Lakes is in need of certain funds <br />to pay principal and interest expenses towards the <br />Publice Project Revenue Bonds, <br />WHEREAS, the City of Lino Lakes is restricted by levy <br />limitations imposed upon it by the State of Minnesota, <br />NOW THEREFORE BE IT RESOLVED, that the City of Lino Lakes, <br />Anoka County, Minnesota, hereby does levy on a final basis <br />the following upon the taxable property in said City of Lino <br />Lakes, to -wit: <br />1. Total amount levied in the year 1990 to be spread <br />for taxes due and payable in the year 1991 is in the <br />total sum of $ 1,717,473.50. <br />2. The total amount above levied is for the following <br />purposes: <br />LEVY LIMIT $ 1,485,621.00 <br />General bonded Debt <br />Equipment Certificates of 1989 82,278.00 <br />Equipment Certificates of 1989B 67,875.00 <br />Public Project Revenue Bonds 57,282.50 <br />Equipment Certificates of 1990 24,417.00 <br />Total General Obligation 231,852.50 <br />Bonded Debt <br />TOTAL LEVIES 1,717,473.50 <br />Page 1 <br />