1997-117 Council Resolution - Laserfiche WebLink

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Council member Kuether introduced the following resolution and moved its adoption: CITY OF LINO LAKES RESOLUTION NO. 97-117 RESOLUTION CERTIFYING THE PROPOSED 1997 TAX LEVY, COLLECTABLE IN 1998. WHEREAS, the City of Lino Lakes is in need of certain funds to pay expenditures for General Fund operating costs anticipated in the year 1998, and WHEREAS, the City of Lino Lakes is in need of certain funds to pay expenses towards Certificate of Indebtedness obligations, and WHEREAS, the City of Lino Lakes is in need of certain funds to pay expenses towards the Public Project Revenue Bonds, and WHEREAS, the City of Lino Lakes is in need of certain funds to pay expenses towards the City Facilities Revenue Bonds, and WHEREAS, the City of Lino Lakes is restricted by levy limitations imposed by the State of Minnesota. NOW THEREFORE BE IT RESOLVED, that the City of Lino Lakes, Anoka County, Minnesota, hereby does levy on a proposed basis the following upon taxable property in said City of Lino Lakes, to -wit: 1. Total amount levied in the year 1997 to be spread for taxes due and payable in the year 1998 (without HACA) is $3,258,116. 2. The total amount above levied (without HACA) is for the following purposes: GENERAL OPERATING $2,544,330 General Bonded Debt Public Project Revenue Bonds Public Facilities Bond Equipment Certificates of 1996 Equipment Certificates of 1997 Total General Obligation Bonded Debt TOTAL LEVIES 111,448 221,335 147,808 233,195 $ 713,786 $3,258,116 BE IT FURTHER RESOLVED by the Lino Lakes City Council that the general fund operating budget and special levies for Equipment Certificates, Public Project Revenue Bonds, and Public Facilities Bond as reviewed by the City Council represents the basis for this levy. Individual department budgets are subject to preliminary approval by the City Council and shall be authorized by separate action. Adopted by the Lino Lakes City Council this 8th day of September, 1997.