Resolution 4068 - Laserfiche WebLink

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, 't' , , . . obligations as the issuer thereof, there is hereby levied upon all of the taxable property in the City a direct annual ad valorem tax which shall be spread upon the tax rolls and collected with and as part of other general property taxes in the City for the years and in the amounts as follows: Year of Tax Year of Tax Levv Collection Amount 1991 1992 $ 130,231 1992 1993 104,277 1993 1994 104,315 1994 1995 102,970 1995 1996 102,725 1996 1997 103,486 1997 1998 102,771 1998 1999 101,868 1999 2000 100,776 2000 2001 100,691 2001 2002 99,130 2002 2003 99,192 2003 2004 99,070 2004 2005 98,652 2005 2006 97,931 2006 2007 98,160 2007 2008 98,064 . 2008 2009 99,163 2009 2010 98,687 2010 2011 99,100 The tax levies shall be irrepealable so long as any of the City's Bonds are outstanding and unpaid, provided that the City reserves the right and power to reduce the levies in the manner and to the extent permitted by Minnesota statutes, Section 475.61, Subdivision 3, and to reduce or increase the levies in response to changes from year to year in the City's Formula share of the debt service on the Bonds. interest due, the shall be It is hereby found and determined that the revenues provided herein for the payment of the City's Bonds will be available in amounts sufficient to produce at least five percent (5%) in excess of the amount needed to meet, when due, the principal and interest payments on the City's Bonds. For the prompt and full payment of the principal and on the City's Bonds, as the same respectively become full faith and credit and taxing powers of the City and are hereby irrevocably pledged. . 15717 5