HomeMy WebLinkAbout2003-222 Council Resolution•
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CITY OF LINO LAKES
RESOLUTION NO. 03-222
RESOLUTION ADOPTING THE FINAL 2003 TAX LEVY, COLLECTIBLE IN 2004.
WHEREAS, the City of Lino Lakes is in need of certain funds to pay expenditures for General
Fund operating costs anticipated in the year 2004; and,
WHEREAS, the City of Lino Lakes is in need of certain funds to pay the annual debt service
on outstanding indebtedness and other special obligations; and,
WHEREAS, the City Council adopted its preliminary 2003 tax levy, collectible in 2004, 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 8, 2003.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Lino Lakes, Anoka
County, Minnesota, approves its final 2003 tax levy, collectible in 2004, upon taxable property
within the City of Lino Lakes as follows:
1. Total amount levied in the year 2003 to be spread for taxes due and payable in
the year 2004 is $6,550,620.
2. The total amount above levied is for the following purposes:
General Operating Lew $5,500,866
Special Levies
Increased PERA Contribution 8,281
Tax Abatement 114,395
General Bonded Debt
Public Project Revenue Bond
Civic Complex Bond 1998A
G.O. Improvement Bond 1998B
Equipment Certificates of 2001
Equipment Certificates of 2002
Equipment Certificates of 2003A
Equipment Certificates of 2003B
Total General Obligation Bonded Debt
140,716
325,988
154,876
122,430
52,920
62,948
67,200
927,078
TOTAL LEVIES $6,550,620
Adopted by the Lino Lakes City Council this 15th day of December, 2003.
Ct
Ann Blai�ity Clerk
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AGENDA ITEM 3A
STAFF ORIGINATOR Al Rolek
DATE December 15, 2003
TOPIC Consideration of Resolution No. 03-222 adopting the Final
2003 Tax Levy, collectable in 2004.
Simple Majority
VOTE REQUIRED
BACKGROUND
Truth in Taxation requires the City of Lino Lakes to adopt and certify a final 2003 tax levy,
collectable in 2004 on or before December 29th.
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 recovers 60% of state
aids cut by the 2003 state legislature, and provides resources for salary and wage
adjustments, capital outlay and equipment replacement 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 8. 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 03-222 approving the final 2003 Tax Levy,
collectible in 2004.
OPTIONS
1. Approve Resolution No. 03-222 adopting the final 2003 tax levy, collectable in 2004.
2. Refer to Staff for further review.
3. Deny Resolution No. 03-222.
RECOMMENDATION;
Option 1