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MU210\4\736861.v5 <br />EXHIBIT A <br /> <br />ORDINANCE NO. ___ <br /> <br />CITY OF MOUNDS VIEW <br />COUNTY OF RAMSEY <br />STATE OF MINNESOTA <br /> <br />AN ORDINANCE AMENDING SECTION 7.03, SUBDIVISION 1 OF THE CITY OF <br />MOUNDS VIEW CHARTER PERTAINING TO THE CITY’S SYSTEM OF TAXATION <br /> <br />THE CITY OF MOUNDS VIEW ORDAINS: <br /> <br /> Section 1. Background; findings; authority. <br /> <br />1.01. The city of Mounds View (“City”) is governed by a home rule charter (the “City Charter”), <br />adopted pursuant to the Constitution of the State of Minnesota and Minnesota Statutes, chapter 410 <br />(the “Act”). <br /> <br />1.02. The Mounds View Charter Commission has proposed the adoption of an amendment to section <br />7.03 of the City Charter (the “Amendment”) and recommended to the City Council that the <br />Amendment be adopted by ordinance in the manner prescribed by section 410.12, subdivision 7 of the <br />Act. <br /> <br />1.03. A public hearing on the Amendment was held on ______________, 2021 by the Mounds View <br />City Council after published notice containing the text of the Amendment, as required by the Act, and <br />all persons desiring to be heard with reference to the Amendment were heard at said public hearing. <br /> <br />1.04. The Mounds View City Council finds and determines that it is in the best interests of the City <br />and its inhabitants that the Amendment be adopted. <br /> <br /> Section 2. Adoption; effective date; filing. <br /> <br />2.01. Section 7.03, subdivision 1 of the Mounds View City Charter is hereby amended by adding the <br />double-underlined language and deleting the stricken language as follows: <br /> <br />Subdivision 1. The City's annual resolution to levy ad valorem taxes (raising money against <br />real and personal property) shall adhere to the following formula: not exceed the lesser of the following <br />formulas; either the tax levy dollar amount may be increased up to 6.5% over the prior year tax levy <br />dollar amount increased by a maximum of 5%; or CPI (Consumer Price Index) plus 2%, except in the <br />following circumstances: <br /> <br />A) The tax levy dollar amount may be increased an additional 2.5%, to a total of 9%, over the <br />prior year tax levy dollar amount by an affirmative vote of four or more members of the <br />Council. <br /> <br />B) The tax levy dollar amount may be increased to Consumer Price Index (CPI) plus 2.5%, if <br />CPI exceeds 6.5%, by an affirmative vote of four members of the Council. The CPI shall <br />be the 12 month average of the most recently published data for all Urban Consumers in