HomeMy WebLinkAbout2005-201 Council Resolution•
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CITY OF LINO LAKES
RESOLUTION NO. 05-201
RESOLUTION ADOPTING THE FINAL 2005 TAX LEVY, COLLECTIBLE IN 2006.
WHEREAS, the City of Lino Lakes has budgeted to pay expenditures for General Fund
operating costs anticipated in the year 2006; 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 2005 tax levy, collectible in 2006, in
anticipation of the above expenses; and,
WHEREAS, the City Council has published in the official newspaper all notices required by
Minnesota statutes and the City Charter; and,
WHEREAS, the City Council held its Truth in Taxation public hearing on December 12, 2005.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Lino Lakes, Anoka
County, Minnesota, approves its final 2005 tax levy, collectible in 2006, upon taxable property
within the City of Lino Lakes as follows:
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 Operating Lew $6,912,873
Special Levies
Increased PERA Contribution 9,343
Tax Abatement 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 19th day of December, 2005.
124,992
343,382
152,519
22,828
44,520
92,820
107,856
45,364
934,281
$7,976,907
John serge •n, Mayor
A -1
AGENDA ITEM 2A
STAFF ORIGINATOR Al Rolek
DATE December 19, 2005
TOPIC Consideration of Resolution No. 05-201 adopting the Final
2005 Tax Levy, Collectible in 2006.
Simple Majority
VOTE REQUIRED
Truth in Taxation requires the City of Lino Lakes to adopt and certify a final 2005 tax levy,
collectible in 2006 on or before December 28th.
The total levy includes dollars for the general operating budget as well as dollars for special
levies for PERA, tax abatement and general bonded debt. The levy provides resources for
salary and wage adjustments, capital outlay and equipment replacement, street
maintenance and a contingency for unforeseen emergencies. The levy remains the same
as proposed and adopted in September of this year.
A Truth in Taxation public hearing was held on the tax levy on December 12. Tax levy
information was presented and discussed during the public hearing and public testimony
was received.
The City Council needs to take final action on the tax levy at this time. Staff
recommendation is to adopt Resolution 05-201 approving the final 2005 Tax Levy,
collectible in 2006.
1. Approve Resolution No. 05-201 adopting the final 2005 tax levy, collectible in 2006.
2. Refer to Staff for further review.
3. Deny Resolution No. 05 -201.
Option 1
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A -1