HomeMy WebLinkAbout2002-183 Council ResolutionOCtTY OF LINO LAKES
RESOLUTION NO. 02-183
RESOLUTION ADOPTING THE FINAL 2002 TAX LEVY, COLLECTIBLE IN 2003.
WHEREAS, the City of Lino Lakes is in need of certain funds to pay expenditures for General
Fund operating costs anticipated in the year 2003; and,
WHEREAS, the City of Lino Lakes is in need of certain funds to pay the annual debt service
on outstanding indebtedness; and,
WHEREAS, the City Council adopted its preliminary 2002 tax levy, collectible in 2003, 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 9, 2002.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Lino Lakes, Anoka
County, Minnesota, approves its final 2002 tax levy, collectible in 2003, upon taxable property
within the City of Lino Lakes as follows:
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 $5,172,776
Special Levies
Increased PERA Contribution 8,156
General Bonded Debt
Public Project Revenue Bond 123,955
Civic Complex Bond 1998A 345,959
G.O. Improvement Bond 19988 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
Adopted by the Lino Lakes City Council this 16th day of December, 2002.
$6,124,621
A-2
AGENDA ITEM 3A
STAFF ORIGINATOR Al Rolek
DATE December 16, 2002
TOPIC Consideration of Resolution No. 02-183 adopting the Final
2002 Tax Levy, collectable in 2003.
Simple Majority
VOTE REQUIRED
BACKGROUND
Truth in Taxation requires the City of Lino Lakes to adopt and certify a final 2002 tax levy,
collectable in 2003 on or before December 28th.
The total levy includes dollars for the general operating budget as well as dollars for
general bonded debt. The levy includes funding for continued implementation of a vehicle
replacement program, salary and wage adjustments, continued implementation of the
comprehensive plan, 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 9. 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 02-183 approving the final 2002 Tax Levy,
collectible in 2003.
OPTIONS
1. Approve Resolution No. 02-183 adopting the final 2002 tax levy, collectable in 2003.
2. Refer to Staff for further review.
3. Deny Resolution No. 02-183.
RECOMMENDATION
Option 1
A-2