HomeMy WebLinkAbout1999-126 Council ResolutionCouncil member
introduced the following resolution and moved its adoption:
CITY OF LINO LAKES
RESOLUTION NO. 99-126
RESOLUTION CERTIFYING THE FINAL 1999 TAX LEVY, COLLECTABLE IN 2000.
WHEREAS, the City of Lino Lakes is in need of certain funds to pay expenditures for General Fund
operating costs anticipated in the year 2000, and
WHEREAS, the City of Lino Lakes is in need of certain funds to pay expenses towards Certificate of
Indebtedness obligations, and
WHEREAS, the City of Lino Lakes is in need of certain funds to pay expenses towards the Public Project
Revenue Bonds, and
WHEREAS, the City of Lino Lakes is in need of certain funds to pay expenses towards the City Complex
Bonds, and
WHEREAS, the City of Lino Lakes is in need of certain funds to pay expenses towards the G.O
Improvement Bonds of 1998B, and
WHEREAS, the City of Lino Lakes is restricted by levy limitations imposed by the State of Minnesota.
NOW THEREFORE BE IT RESOLVED, that the City of Lino Lakes, Anoka County, Minnesota, hereby does
levy on a proposed basis the following upon taxable property in said City of Lino Lakes, to -wit:
1. Total amount levied in the year 1999 to be spread for taxes due and payable in the year
2000 (net of HACA) is $4,187,526.
2. The total amount above levied (net of HACA) is for the following purposes:
GENERAL OPERATING $3,307,877
General Bonded Debt
Public Project Revenue Bonds 1992 132,947
Civic Complex Bond 1998A 300,172
G.O. Improvement Bond 1998B 138,932
Equipment Certificates of 1997 76,457
Equipment Certificates of 1998 98,481
Equipment Certificates of 1999 132,660
Total General Obligation Bonded Debt $ 879,649
TOTAL LEVIES $4.187,526
BE IT FURTHER RESOLVED by the Lino Lakes City Council that the general fund operating budget and
special levies for Equipment Certificates, Public Project Revenue Bonds, Civic Complex Bond and G.O.
Improvement Bonds of 1998B as reviewed by the City Council represents the basis for this levy. Individual
department budgets are subject to preliminary approval by the City Council and shall be authorized by
separate action.
Page 2
Adopted by the Lino Lakes City Council this 13th day of Decem. - 999.
K
Sul l' .�� M. or
Ry-cti I Gaustad, C C Clerk -Treasurer
The motion for the adoption of the foregoing resolution was duly seconded by Council Member A/04 —,
and upon vote being taken thereon, the following voted in favor thereof: /4(4 ,
The following voted against same: /&61•1a -
Where upon said resolution was declared duly passed and adopted: