HomeMy WebLinkAbout2016-119 Council ResolutionCITY OF LINO LAKES
RESOLUTION NO. 16-119
RESOLUTION ADOPTING THE PRELIMINARY 2016 TAX LEVY, COLLECTIBLE IN
2017
WHEREAS, Minnesota State Statutes grant local governments the authority to levy property
taxes to finance the operations of local jurisdiction; and,
WHEREAS, the City of Lino Lakes annually levies property taxes to finance General Fund
operating costs and annual debt service on outstanding indebtedness; and,
WHEREAS, the City Council of Lino Lakes has reviewed the proposed 2017 General Fund
operating budget and the preliminary 2016 tax levy, collectible in 2017; and,
WHEREAS, the preliminary levy is the maximum that the City will levy for tax year 2016,
collectible in 2017, and which may be lowered but cannot be increased before adopting the final
tax levy; and,
WHEREAS, the City Council must certify the preliminary 2016 tax levy, collectible in 2017 to
the Anoka County Auditor by September 30, 2016.
NOW, THEREFORE BE IT RESOLVED that the City Council of the City of Lino Lakes,
Minnesota, hereby does levy on a preliminary basis the following upon taxable property in said
City of Lino Lakes:
1. Total amount levied in the year 2016 to be spread for taxes due and payable in the year of
2017 is $9,685,562.
2. The total amount levied is for the following purposes:
General Operating Levy $7,530,287
Bonded Indebtedness
G.O. Tax Abatement Bond 2006C 285,411
G.O. CIP Refunding Bond 2006E 464,100
G.O. Bond 2012A 177,692
G.O. Bond 2015A 273,223
Equipment Certificates 2014 178,164
Equipment Certificates 2015A 71,749
Equipment Certificates 2015B 215,030
Equipment Certificates 2016 172,189
EDA Lease/Revenue Bond 2015 317,717
Total Bonded Indebtedness: 2,155,275
TOTAL LEVIES $9.685,562
Adopted by the Council of the City of Lino Lakes this 26t'' day of September, 2016.
The motion for the adoption of the foregoing resolution was introduced by Council Member
Manthey and was duly seconded by Council Member Maher and upon
vote being taken thereon, the following voted in favor thereof:
Manthey, Maher, Kusterman
The following voted against same:
Reinert, Rafferty
ATTEST:
e Bartell, City 1 lerk
Jeff Reinert, ' a o
CITY COUNCIL
AGENDA ITEM 2B
STAFF ORIGINATOR: Sarah Cotton
MEETING DATE: September 26, 2016
TOPIC : Resolution No. 16-119, Adopting the Preliminary 2016 Tax Levy,
Collectible in 2017
VOTE REQUIRED: Simple Majority
BACKGROUND
Minnesota State Statutes require the City of Lino Lakes to adopt and certify a preliminary tax levy for the
coming year on or before September 30t.
The City Council and staff have met several times to discuss budget and levy considerations for 2017. The
total preliminary levy includes dollars for the general operating budget as well as bonded indebtedness.
City Council and staff reviewed a proposed preliminary tax levy at the September 12, 2016 Special Work
Session. There was much discussion regarding the reduction of the preliminary tax levy for Pay 2017. Staff
has prepared this report and Resolution No. 16-119 based on the figures that were reviewed at the
September 12, 2016 Special Work Session.
The preliminary 2016/2017 levy includes resources for on-going City operations, capital outlay and
equipment replacement, and contingencies for unforeseen expenditures. The proposed preliminary tax levy
of $9,685,562 represents a $627,134 or 6.9% increase over the 2015/2016 tax levy. Over the last year the
City's net tax capacity value has grown by 6.9%. The levy is estimated to result in a city tax rate of
45.985% for 2017, a rate flat to the 2016 tax rate of 45.985%.
The preliminary levy in Resolution No. 16-119 represents the City's maximum levy for 2017. The final
levy may be decreased, but the preliminary levy cannot be raised when it is adopted in December.
The levy may be further reviewed by the City Council and staff prior to the public hearing on the levy in
December for changes, if necessary.
RECOMMENDATION
Staff recommends Adoption of Resolution No. 16-119.
ATTACHMENTS
Resolution No. 16-119