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<br />Item No: 7.B <br />Meeting Date: September 14, 2009 <br />Type of Business: Council Business <br />City Administrator Review: _____ <br />City of Mounds View Staff Report <br />To: Honorable Mayor and City Council <br />From: Mark Beer, Finance Director <br />Item Title/Subject: Resolution 7495 Establishing Public Hearing Dates for the <br />Proposed General Fund Budget and Property Tax Levy for <br />Fiscal Year 2010 <br /> <br /> <br />The Truth in Taxation laws have changed and there no longer is an exemption from holding <br />the public hearing when the levy increase is less than the “implicit price deflator”. Mounds <br />View has always held a Truth in Taxation hearing regardless of the exemption so the law <br />change does not affect us. <br /> <br />The State has reserved Monday, December 7, 2009 and Monday, December 14, 2009 for <br />use by cities. Cities may select other days if they wish, but then must work around dates <br />selected by counties, school districts, and special districts that were given priority for those <br />dates by the State. <br /> <br />I recommend that since the Mounds View City Council normally meets on Mondays, that the <br />initial Truth in Taxation public hearing be held on Monday, December 7, 2009 and that the <br />continuation public hearing be held on Monday, December 14, 2009. The continuation <br />public hearing may be part of the regular City Council meeting on Monday, December 14, <br />2009. <br /> <br />Final adoption of the a budget and property tax levy for 2010 may happen at the regular City <br />Council meeting on Monday, December 14, 2009. <br /> <br />The attached resolution establishes December 7, 2009 and December 14, 2009 as the <br />dates for the Truth in Taxation public hearings. <br /> <br /> <br />Respectfully submitted, <br /> <br /> <br />___________________________ <br />Mark Beer <br /> <br /> <br /> <br /> <br /> <br />