HomeMy WebLinkAbout2005-131 Council ResolutionCITY OF LINO LAKES
RESOLUTION NO. 05-131
RESOLUTION ADOPTING AND CERTIFYING THE PRELIMINARY 2005 TAX LEVY, COLLECTIBLE IN
2006
WHEREAS, Minnesota State Statutes grant local govemments 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 2006 General Fund operating
budget and the preliminary 2005 tax levy collectible in 2006; and,
WHEREAS, the preliminary levy is the maximum that the City will levy for tax year 2005 collectible in
2006, and which may be lowered but cannot be increased before adopting the final tax levy;
and,
WHEREAS, the City Council must certify the preliminary 2005 tax levy collectible in 2006 to the Anoka
County Auditor by September 15, 2005.
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 2005 to be spread for taxes due and payable in the year
2006 is $7,976,907.
2. The total amount above levied is for the following purposes:
General Operatinca Lew $6,912,873
Special Levies
Increased PERA Contribution 9,343
Tax Abatement — Target & Kohl's 120,410
General Bonded Debt
Public Project Revenue Bond
Civic Complex Bond 1998A
G.O. Improvement Bond 1998B
G.O. Improvement Bond 2003B
Equipment Certificates of 2003A
Equipment Certificates of 2003B
Equipment Certificates of 2004
Equipment Certificates of 2005
Total General Obligation Bonded Debt
TOTAL LEVIES
Adopted by the Lino Lakes City Council this 13th day of September, 200$..
Jea ig = , Deputy City C rk
124,992
343,382
152,519
22,828
44,520
92,820
107,856
45.364
934,281
$7,976,907
-29B-
AGENDA ITEM 2B
STAFF ORIGINATOR Al Rolek
MEETING DATE September 13, 2005
TOPIC Consideration of Resolution 05 -131 adopting the preliminary 2005
Tax Levy, collectible in 2006.
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 Minnesota State Legislature has again suspended the Market Value Homestead Credit Aid
and Local Govemment Aid to the city has been permanently eliminated. The proposed budget
incorporates 2 new staff positions and continues some of the programs that were re- implemented
in 2005. With these changes to the budget, the levy as proposed will increase by 9.7% over
2005, while the tax base grew by 11.9 %. The proposed levy is expected to result in a lower city
tax rate for 2006.
The proposed levy in Resolution 05 -131 is the City's maximum levy for 2005/06. 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 a tax
abatement under agreements between the City and Target and Kohl's.
The levy will : be further reviewed by the City Council and staff between September 1:3th and
December 12th, for changes if necessary.
1. Adopt Resolution 05 -131 adopting the proposed 2005 tax levy, collectible in 2006.
2. Retum to Staff for further review.
Option 1