HomeMy WebLinkAbout2002-105 Council ResolutionCITY OF LINO LAKES
RESOLUTION NO. 02-105
RESOLUTION ADOPTING AND CERTIFYING THE PRELIMINARY 2002 TAX LEVY, COLLECTIBLE IN
2003.
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 2003 General Fund operating
budget and the preliminary 2002 tax levy collectible in 2003; and,
WHEREAS, the preliminary levy is the maximum that the City will levy for tax year 2002 collectible in
2003, and which may be lowered but cannot be increased before adopting the final tax levy;
and,
WHEREAS, the City Council must certify the preliminary 2002 tax levy collectible in 2003 to the Anoka
County Auditor by September 16, 2002.
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 2002 to be spread for taxes due and payable in the year
2003 is $6,124,621.
2. The total amount above levied is for the following purposes:
General Operating Levy
Special Levies
Increased PERA Contribution
$5,172,776
8,156
General Bonded Debt
Public Project Revenue Bond 123,955
Civic Complex Bond 1998A 345,959
G.O. Improvement Bond 1998B 153,192
Equipment Certificates of 2000 120,705
Equipment Certificates of 2001 130,473
Equipment Certificates of 2002 69,405
Total General Obligation Bonded Debt 943,689
TOTAL LEVIES $6 124 621
Adopted by the Lino Lakes City Council this 9th day of September, 2002.
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Ann J. Blair, Citi Clerk
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