HomeMy WebLinkAbout2014-097 Council ResolutionCITY OF LINO LAKES
RESOLUTION NO. 14-97
RESOLUTION ADOPTING AND CERTIFYING THE PRELIMINARY 2014 TAX LEVY,
COLLECTIBLE IN 2015
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 2015 General Fund operating
budget and the preliminary 2014 tax levy collectible in 2015; and,
WHEREAS, the preliminary levy is the maximum that the City will levy for tax year 2014 collectible in
2015, and which may be lowered but cannot be increased before adopting the final tax levy;
and,
WHEREAS, the City Council must certify the preliminary 2015 tax levy collectible in 2015 to the
Anoka County Auditor by September 30, 2014.
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 2014 to be spread for taxes due and payable in the year
2015 is $9,166,966.
2. The total amount above levied is for the following purposes:
General Operating Levy $7,971,472
General Bonded Debt
G.O. Improvement Refunding Bond 2005B
G.O. Tax Abatement Bonds 2006C 264,458
G.O. CIP Refunding Bond 2006E 449,820
G.O. Bonds 2012A 179,563
Equipment Certificates of 2012 54,086
Equipment Certificates of 2013 69,615
Equipment Certificates of 2014 177.952
Total General Obligation Bonded Debt 1.195.494
TOTAL LEVIES $9,166,966
Adopted by the Lino Lakes City Council this 8th day of September, 2014.
The motion for the adoption of the foregoing resolution was introduced by Council Member
Roeser and was duly seconded by Council Member Kusterman and upon vote being
taken thereon, the following voted in favor thereof:
Roeser, Kusterman, Reinert
The following voted against same:
Rafferty, Stoesz
ATTEST:
e Bartell. City C erk
L
CITY COUNCIL
AGENDA ITEM 2A
STAFF ORIGINATOR: Al Rolek
MEETING DATE: September 8, 2014
TOPIC: Consideration of Resolution No. 14-97 adopting the preliminary 2014 Tax
Levy, collectible in 2015.
VOTE REQUIRED: Simple Majority
BACKGROUND
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.
Over the last several months the City Council and staff have met many times to discuss budget and levy
considerations for 2015. After much deliberation the City Council has arrived at preliminary tax levy
amount for the coming year. The levy includes $480,894 in one-time for startup costs for the Lino Lakes
Fire Department to be operational by January, 2016 (plus the City's contribution to the Centennial Fire
District), the addition of 2 staff positions, increased efforts for street maintenance, $179,563 for the voter -
approved debt service levy for the signalization of the Lake/Main and Birch/Ware intersections, as well as
adjustments for ongoing City operations. The proposed preliminary tax levy of $9,166,966 will increase
city taxes by 10.5% over the 2013/14 tax levy. Over the last year the City's tax capacity has grown by
12.69%. The levy is estimated to result in a city tax rate of 46.500% for 2015, a decrease from the 2014 tax
rate of 46.682%.
The preliminary levy in Resolution 14-97 represents the City's maximum levy for 2014/15. The final levy
may be decreased, but cannot be more than the preliminary levy when it is adopted in December.
The total levy includes funding for the general operating budget, including startup costs for the Lino Lakes
Fire Department, 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 public hearing on the levy in
December for changes, if necessary.
RECOMMENDATION
Staff recommends Adoption of Resolution No. 14-97.
ATTACHMENTS
Resolution No. 14-97