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REVISED <br />` .. CITY OF LINO LAKES <br />RESOLUTION NO. 15-100 <br />RESOLUTION ADOPTING THE PRELIMINARY 2015 TAX LEVY, COLLECTIBLE IN <br />2016 <br />WHEREAS, Minnesota State Statutes grant local governments the authority to levy property <br />taxes to finance the operations of local jurisdiction; and, <br />WHEREAS, the City of Lino Lakes annually levies property taxes to finance General Fund <br />operating costs and annual debt service on outstanding indebtedness; and, <br />WHEREAS, the City Council of Lino Lakes has reviewed the proposed 2016 General Fund <br />operating budget and the preliminary 2015 tax levy, collectible in 2016; and, <br />WHEREAS, the preliminary levy is the maximum that the City will levy for tax year 2015, <br />collectible in 2016, and which may be lowered but cannot be increased before adopting the final <br />tax levy; and, <br />WHEREAS, the City Council must certify the preliminary 2015 tax levy, collectible in 2016 to <br />the Anoka County Auditor by September 30, 2015. <br />NOW, THEREFORE BE IT RESOLVED that the City Council of the City of Lino Lakes, <br />Minnesota, hereby does levy on a preliminary basis the following upon taxable property in said <br />City of Lino Lakes: <br />1. Total amount levied in the year 2015 to be spread for taxes due and payable in the year of <br />2016 is $9,058,428. <br />2. The total amount levied is for the following purposes: <br />General Operating Levy $7,018,572 <br />Bonded Indebtedness <br />G.O. Tax Abatement Bond 2006C 278,140 <br />G.O. CIP Refunding Bond 2006E 460,110 <br />G.O. Bond 2012A 178,749 <br />G.O. Bond 2015A 271,963 <br />Equipment Certificates 2013 68,933 <br />Equipment Certificates 2014 178,868 <br />Equipment Certificates 2015A 72,240 <br />Equipment Certificates 2015B 214,921 <br />EDA Lease/Revenue Bond 2015 315,932 <br />Total Bonded Indebtedness: 2,039,856 <br />TOTAL LEVIES $9,058,428 <br />