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unds View City Council ~gular Meeting August 26, 1991 Page Five Brager stated that the City proposes to levy $83,327 more than the City's 1991 levy to make up for reduced 1992 Local Government Aid (LGA). In November of 1990, at the General Election, the voters approved the issuance of Fire Improvement Bonds to finance various capital improvements for the Fire Department. Mounds View's share of the 1992 bond interest payment is .$130,231. The proposed 1991 property tax levy is 14.08 greater than the City's 1991 levy. Mr. Bill Frits, 8072 Long Lake Road, stated that the City can't keep levying more and more and getting less and less for it. Mr. Frits questioned the fact that the City had reserve money and shouldn't have reserve money. Mayor Linke explained to Mr. Frits that there is actually a 6~ increase rather than a 14$ increase because the Council is still in the process of completing and balancing the budget. Mayor Linke also stated that the proposed levy can be higher but the finally adopted levy can be lower than proposed. Truth in Taxation legislation "puts the cart before the horse" so to speak because of their deadline when the City has not completed its • budget work before the proposed levy is due. Mayor Linke further explained that it was the voters who voted the Fire Bond Referendum into place. Mayor Linke reviewed the process the City has to follow. The City lives on taxes which are sent to the City; one-half in July. and the other half in December. The monies which are sent to the City are used to pay bills until the City receives money from the state, therefore, there is always money in the account. Bill Frits, 8072 Long Lake Road, asked then why the snow job of telling the residents there are reserves, when there are not? "I am paying 14~ then, this has got to stop." Mayor Linke again stated that the voters elected to raise the taxes. Don't blame the Council. The Council supported the referendum and Mayor Linke states he still does. The Council will take the credit or blame for 6~. Through the budget process this levy amount may even become lower than 6~. Last year the City had a decrease in the percentage in taxes.. Truth in Taxation wants the numbers in now and this is way in advance of where it should be. Our 4th budget hearing will be held tomorrow at 6:00 p.m. Mr. Frits stated he felt Mayor Linke has answered his questions for now.