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CITY COUNCIL <br />AGENDA ITEM 2A(i) <br />STAFF ORIGINATOR: Sarah Cotton <br />MEETING DATE: December 14, 2015 <br />TOPIC: Consider Resolution No. 15-141, Adopting the Final 2015 Tax <br />Levy, Collectible in 2016 <br />VOTE REQUIRED: 3/5 <br />BACKGROUND <br />Minnesota State Statutes require the City of Lino Lakes to adopt and certify a final 2015 tax levy, <br />collectible in 2016 on or before December 28th. <br />The total levy includes dollars for the general operating budget as well as dollars for special levies <br />for tax abatement and bonded indebtedness. The levy provides resources for City operations, capital <br />outlay and equipment replacement, street and storm drainage maintenance and a contingency for <br />unforeseen emergencies. The levy also includes voter -approved levies of $178,749 to service debt <br />for the Birch/Ware and Lake/Main intersection signalization projects and $214,922 to service debt <br />for the Shenandoah Street Reconstruction project. The total proposed tax levy for 2015/16 is <br />$9,058,428, which is equal to the preliminary levy adopted in September. The proposed levy <br />represents an increase of $372,356 from the 2014/15 tax levy. The tax rate is estimated to increase <br />for 2016 from 43.770% to 45.900%. <br />A public hearing was held on the tax levy for this evening. Tax levy information was presented and <br />discussed during the public hearing and public testimony was received. <br />The City Council needs to take fmal action on the tax levy at this time. <br />RECOMMENDATION <br />Staff recommends the approval of Resolution No. 15-141. <br />ATTACHMENTS <br />Resolution No. 15-141, Adopting the Final 2015 Tax Levy, Collectible in 2016 <br />