HomeMy WebLinkAbout2021-145 Council Resolution CITY OF LINO LAKES
RESOLUTION NO. 21-145
RESOLUTION ADOPTING THE FINAL 2021 TAX LEVY, COLLECTIBLE IN 2022
WHEREAS,the City of Lino Lakes has budgeted to pay expenditures for operating costs
anticipated in the year 2022, and
WHEREAS,the City of Lino Lakes has budgeted to pay the annual debt service on outstanding
indebtedness, and
WHEREAS,the City Council adopted its preliminary 2021 tax levy, collectible in 2022, in
anticipation of the above expenses, and
WHEREAS,the City Council has published in the official newspaper all notices required by
Minnesota State Statutes and the City Charter, and
WHEREAS,the City Council held its public hearing on December 13, 2021.
NOW,THEREFORE BE IT RESOLVED that The City Council of The City of Lino Lakes,
approves its final 2021 tax levy, collectible in 2022, upon taxable property within the City of
Lino Lakes as follows:
1. Total amount levied in the year 2021 to be spread for taxes due and payable in the year
2022 is $11,819,287.
2. The total amount levied above is for the following purposes:
Operating Levy $9,790,843
Bonded Indebtedness
G.O. Bond 2012A 178,794
G.O. Bond 2015A 267,869
EDA Lease/Revenue Bond 2015 316,300
G.O. Tax Abatement Refunding Bonds 2016C 325,054
G.O. Bond 2018A 485,212
G.O. Bond 2021A 209,680
Equipment Certificates 2019 139,493
Equipment Certificates 2020 106,042
Total Bonded Indebtedness: $2,028,444
TOTAL LEVIES 11.819.287
Adopted by the City Council of the City of Lino Lakes this 13th day of December 2021.
The motion for the adoption of the foregoing resolution was introduced by Councilmember
Cavegn and was duly seconded by Councilmember Ruhland and upon vote being taken
thereon,the following voted in favor thereof: Ruhland,Lyden, Cavegn, Stoesz
The following voted against same: Rafferty
Ro Rafferty, Mayor
ATTEST:
u to ne Bartell, Cio Cler