HomeMy WebLinkAbout2006-208 Council Resolution•
•
Council Member O'Donnell introduced the following resolution and moved its adoption:
CITY OF LINO LAKES
RESOLUTION NO. 06 -208
RESOLUTION ADOPTING THE FINAL 2006 TAX LEVY, COLLECTIBLE IN 2007
WHEREAS, the City of Lino Lakes has budgeted to pay expenditures for General Fund
operating costs anticipated in the year 2007; 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 2006 tax levy, collectible in 2007, 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 11, 2006.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Lino Lakes, Anoka
County, Minnesota, approves its final 2006 tax levy, collectible in 2007, upon taxable property
within the City of Lino Lakes as follows:
1. Total amount levied in the year 2006 to be spread for taxes due and payable in
the year 2007 is $8,456,328.
2. The total amount above levied is for the following purposes:
General Operating Levy $7,430,427
Special Levies
Tax Abatement
128,568
General Bonded Debt
Public Project Revenue Bond 119,952
Civic Complex Bond 1998A 177,056
G.O. Improvement Bond 2003B 21,844
G.O. Improvement Refunding Bond 2005B 97,152
G.O. Tax Abatement Bond 2006C 86,656
G.O. Capital Improvement Plan Refunding Bond 2006E 125,580
Equipment Certificates of 2004 107,016
Equipment Certificates of 2005 39,774
Equipment Certificates of 2006 122,303
Total General Obligation Bonded Debt 897,333
TOTAL LEVIES $8.456.328
Adopted by the Lino Lakes City Council this 18th day of December, 2006.
The motion for the adoption of the foregoing resolution was duly seconded by Council Member Stoltz
and upon vote being taken thereon, the following voted in favor thereof:
O'Donnell, Stoltz, Reinert, Bergeson
The following voted against same:
Carlson
A -1
•
•
•
Whereupon said resolution was declared duly passed and adopted.
nne Bartell, City Jerk
John 'Bergese , Ma or
A -1
A
•
•
AGENDA ITEM 2B
STAFF ORIGINATOR Al Rolek
DATE December 18, 2006
TOPIC Consideration of Resolution No. 06 -208 adopting the Final
2006 Tax Levy, Collectible in 2007.
Simple Majority
VOTE REQUIRED
Truth in Taxation legislation requires the City of Lino Lakes to adopt and certify a final 2006
tax levy, collectible in 2007 on or before December 28th.
The total levy includes dollars for the general operating budget as well as dollars for special
levies for tax abatement and general bonded debt. The levy provides resources for salary
and wage adjustments, capital outlay and equipment replacement, street and Storm
Drainage maintenance and a contingency for unforeseen emergencies. The levy is
reduced from the amount proposed and adopted in September of this year due to the
refinancing of the Civic Center bond issue.
A Truth in Taxation public hearing was held on the tax levy on December 11. 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 06 -208 approving the final 2006 Tax Levy,
collectible in 2007.
1. Approve Resolution No. 06 -208 adopting the final 2006 tax levy, collectible in 2007.
2. Refer to Staff for further review.
3. Deny Resolution No. 06 -208.
Option 1