HomeMy WebLinkAbout2010-078 Council Resolution•
Council MemberRoeser introduced the following resolution and moved its adoption:
CITY OF LINO LAKES
COUNTY OF ANOKA
RESOLUTION NO. 10-78
RESOLUTION ADOPTING AND CERTIFYING THE PRELIMINARY 2010 TAX LEVY, COLLECTIBLE IN
2011
WHEREAS, Minnesota State Statutes grant local governments the authority to levy property taxes to
finance the operations of the 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 2011 General Fund operating
budget and the preliminary 2010 tax levy collectible in 2011; and,
WHEREAS, the preliminary levy is the maximum that the City will levy for tax year 2010 collectible in
2011, and which may be lowered but cannot be increased before adopting the final tax levy;
and,
WHEREAS, the City Council must certify the preliminary 2010 tax levy collectible in 2011 to the Anoka
County Auditor by September 15, 2010.
NOW, THEREFORE, BE IT RESOLVED, that the City Council of the City of Lino Lakes, Anoka County,
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 2010 to be spread for taxes due and payable in the year
2011 is $8,660,000.
2. The total amount above levied is for the following purposes:
General Operating Levy $7,675,424
Special Levies
PERA Employer Contribution 43,816
General Bonded Debt
G.O. Improvement Bond 2003B 21,917
G.O. Improvement Refunding Bond 2005B 124,172
G.O. Tax Abatement Bonds 2006C 196,581
G.O. CIP Refunding Bond 2006E 325,410
Equipment Certificates of 2008 80,808
Equipment Certificates of 2009 127,008
Equipment Certificates of 2010 64,864
Total General Obligation Bonded Debt 940,760
TOTAL LEVIES $8,660,000
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•
Jeff Reinert, Mayor
Julianne :art I, City Clerk
Adopted by the Lino Lakes City Council this 13th day of September, 2010.
The motion for the adoption of the foregoing resolution was duly seconded by Council MembPl lupand
upon vote being taken thereon, the following voted in favor thereof:
_RoesGala Gallup. O'Donnell, Reinert
ne oOeirfg voted fist
Whereupon said resolution was declared duly passed and adopted.
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AGENDA ITEM 2A
STAFF ORIGINATOR Al Rolek
• MEETING DATE September 13, 2010
TOPIC Consideration of Resolution 10 -78 adopting the preliminary 2010
Tax Levy, collectible in 2011.
•
•
VOTE REQUIRED
Simple Majority
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 15th of each year.
The proposed preliminary tax levy of $8,660,000 will decrease city taxes by $35,414 (0.41%) from
the 2009/10 tax levy, and is $948,834 under the state mandated limits. The city's tax base has
decreased by approximately 9.76% over the last year. The proposed levy is estimated to result in
a city tax rate of 41.728% for 2011.
The proposed levy in Resolution 10 -78 represents the City's maximum levy for 2010/11. The
final levy may be decreased, but can not be more than the preliminary levy when it is adopted in
December.
The total levy includes funding for the general operating budget, general bonded debt and tax
abatements for debt service for the YMCA bonds.
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.
1. Adopt Resolution 10 -78 adopting the proposed 2010 tax levy, collectible in 2011
2. Return to Staff for further review
Option 1
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