HomeMy WebLinkAbout2004-189 Council Resolution•
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CITY OF LINO LAKES
RESOLUTION NO. 04 -189
RESOLUTION ADOPTING THE FINAL 2004 TAX LEVY, COLLECTIBLE IN 2005.
WHEREAS, the City of Lino Lakes has budgeted to pay expenditures for General Fund
operating costs anticipated in the year 2005; 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 2004 tax levy, collectible in 2005, 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 13, 2004.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Lino Lakes, Anoka
County, Minnesota, approves its final 2004 tax levy, collectible in 2005, upon taxable property
within the City of Lino Lakes as follows:
1. Total amount levied in the year 2004 to be spread for taxes due and payable in
the year 2005 is $7,269,302.
2. The total amount above levied is for the following purposes:
General Operating Levy $6,215,313
Special Levies
Increased PERA Contribution 8,898
Tax Abatement 118,000
General Bonded Debt
Public Project Revenue Bond 135,479
Civic Complex Bond 1998A 332,525
G.O. Improvement Bond 1998B 151,072
Taxable G.O. Improvement Bond 2003B 23,668
Equipment Certificates of 2002 50,085
Equipment Certificates of 2003A 52,605
Equipment Certificates of 2003B 74,550
Equipment Certificates of 2004 107,107
Total General Obligation Bonded Debt 927,091
TOTAL LEVIES $7,269,309
Adopted by the Lino Lakes City Council this 20th day of December, 2004.
Ann Blair, ¢ ty Clerk
A -1
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John Mayor ,
AGENDA ITEM 2A
STAFF ORIGINATOR Al Rolek
DATE December 20, 2004
TOPIC Consideration of Resolution No. 04 -189 adopting the Final
2004 Tax Levy, Collectible in 2005.
Simple Majority
VOTE REQUIRED
BACKGROUND
Truth in Taxation requires the City of Lino Lakes to adopt and certify a final 2004 tax levy,
collectible in 2005 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 13. 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 04 -189 approving the final 2004 Tax Levy,
collectible in 2005.
OPTIONS
1. Approve Resolution No. 04 -189 adopting the final 2004 tax levy, collectible in 2005.
2. Refer to Staff for further review.
3. Deny Resolution No. 04 -189.
RECOMMENDATION
Option 1
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A -1
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