HomeMy WebLinkAbout2014-147 Council ResolutionCITY OF LINO LAKES
RESOLUTION NO. 14-147
RESOLUTION ADOPTING THE FINAL 2014 TAX LEVY, COLLECTIBLE IN 2015
WHEREAS, the City of Lino Lakes has budgeted to pay expenditures for General Fund operating costs anticipated
in the year 2015; 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 2014 tax levy, collectible in 2015, 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 public hearing on December 8, 2014.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Lino Lakes, Anoka County,
Minnesota, approves its final 2014 tax levy, collectible in 2015, upon taxable property within the City of Lino Lakes
as follows:
1. Total amount levied in the year 2014 to be spread for taxes due and payable in the year 2015 is
$8,686,072.
2. The total amount above levied is for the following purposes:
General Operating Levy $7,490,578
General Bonded Debt
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 $8,686,072
Adopted by the Council of the City of Lino Lakes this 8th day of December, 2014.
The motion for the adoption of the foregoing resolution was introduced by Council Member Roeser
and was duly seconded by Council Member and upon vote being taken thereon, the fo : ' ing voted in
favor thereof:. Kusterman
RQeesx Kusterman, Rafferty, Stoe
Tfie tollowm
votea same:.
none
ATTEST:
Bartell, City Cle �..
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Jeff Reinert,
AGENDA ITEM 2A (i)
STAFF ORIGINATOR Al Rolek
DATE December 8, 2014
TOPIC Consideration of Resolution No. 14-147 adopting the Final 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 final 2014 tax levy, collectible
in 2015 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 City operations, capital outlay and
equipment replacement, street and storm drainage maintenance and a contingency for unforeseen
emergencies. The levy also includes a voter -approved levy of $179,563 to service debt for the Birch/Ware
and Lake/Main intersection signalization projects. The total proposed tax levy for 2014/15 is $8,686,072,
$480,894 less than the preliminary levy adopted in September. The proposed levy represents an increase of
$390,028 from the 2013/14 tax levy. The tax rate is estimated to decrease for 2015 from 46.682% to
43.730%.
A public hearing was held on the tax levy for this evening. 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.
RECOMMENDATION
Staff recommendation is to adopt Resolution No. 14-147 approving the final 2014 Tax Levy, collectible in
2015.
ATTACHMENTS
Resolution 14-147.
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