HomeMy WebLinkAbout2008-092 Council ResolutionJulie Bartell
From: Alan Rolek
Sent: Wednesday, September 17, 2008 8:43 AM
Julie Bartell
ect: Resolution 08 -92
Attachments: 08 -92 Adopting 2008 -09 Proposed Tax Levy.doc
Julie - we found an error in this resolution. The actual levy is correct, but there is a debt levy listed that should have been
removed, so I have corrected the resolution. Please put the corrected resolution in with the hard copies. The mayor's signature
page is separate on this one, so we won't need him to re -sign.
Thanks.
08 -92 Adopting
2008 -09 Propose...
Alan Rolek
Director of Finance
City of Lino Lakes
Town Center Parkway
Lino Lakes, MN 55014
Voice - (651) 982 -2410
Fax - (651) 982 -2499
E -mail - alan.rolek @ci.lino - lakes.mn.us
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Council Member Reinert introduced the following resolution and moved its adoption:
CITY OF LINO LAKES
COUNTY OF ANOKA
RESOLUTION NO. 08-92
RESOLUTION ADOPTING AND CERTIFYING THE PRELIMINARY 2008 TAX LEVY, COLLECTIBLE IN
2009
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 2009 General Fund operating
budget and the preliminary 2008 tax levy collectible in 2009; and,
WHEREAS, the preliminary levy is the maximum that the City will levy for tax year 2008 collectible in
2009, and which may be lowered but cannot be increased before adopting the final tax levy;
and,
WHEREAS, the City Council must certify the preliminary 2008 tax levy collectible in 2009 to the Anoka
County Auditor by September 15, 2008.
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 2008 to be spread for taxes due and payable in the year
2009 is $9,244,338.
2. The total amount above levied is for the following purposes:
General Operating Lew $8,247,178
Special Levies
PERA Employer Contribution 47,994
Tax Abatement - Legacy/YMCA Abatement Bonds 2006C 108,591
General Bonded Debt
Public Project Revenue Bond 104,570
Civic Complex Bond 1998A 126,788
G.O. Improvement Bond 2003B 19,534
G.O. Improvement Refunding Bond 2005B 113,482
G.O. CIP Refunding Bond 2006E 209,580
Equipment Certificates of 2006 120,698
Equipment Certificates of 2007 62,948
Equipment Certificates of 2008 82,975
Total General Obligation Bonded Debt 840,575
TOTAL LEVIES $9 244 338
Page 29A — 29B
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J lianne Bartell, City Clerk
Adopted by the Lino Lakes City Council this 8th day of September, 2008.
The motion for the adoption of the foregoing resolution was duly seconded by Council Member
and upon vote being taken thereon, the following voted in favor thereof:
Reinert, Stoltz, O'Donnell, Gallup, Bergeson
The following voted against same:
none
Whereupon said resolution was declared duly passed and adopted.
Page 29A — 29B
AGENDA ITEM 2B
STAFF ORIGINATOR Al Rolek
IIMEETING DATE September 8, 2008
TOPIC Consideration of Resolution 08 -92 adopting the preliminary 2008
Tax Levy, collectible in 2009.
Simple Majority
VOTE REQUIRED
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 state legislature has again implemented property tax levy limits for the next three years,
beginning with the 2008/09 tax levy. The levy as proposed will increase by 4.25% over 2007/08,
which is within the state mandated limits. The city's tax base has increased by 4.34% over the
last year. The proposed levy is estimated to result in a city tax rate of 38.574% for 2009, down
slightly from 38.967% in 2008.
The proposed levy in Resolution 08 -92 represents the City's maximum levy for 2008/09. The
final levy may be decreased, but can not be more than the proposed 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 Truth in Taxation
hearing for changes, if necessary.
1. Adopt Resolution 08 -92 adopting the proposed 2008 tax levy, collectible in 2009.
2. Return to Staff for further review.
Option 1
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Page 29A — 29B