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Mounds View City Council Page Three <br />~udget Hearing December 9, 1992 <br />Linke stated that the market values for the City of Mounds View went up 3.3% <br />on the average, however, the capacity value for the City went down. Using <br />the same rate the City will receive less of the taxpayers money than in <br />1992. <br />McCarty stated that trying to explain the Truth In Taxation handout is very <br />difficult to do. <br />Samantha Orduno, City Administrator, reviewed the 1993 proposed budget by <br />presenting it through transparencies and handouts. Orduno went through the <br />information provided to the public. Orduno reviewed where the City receives <br />revenues and what the revenues are spent on. <br />Don Brager, Finance Director-Treasurer, reviewed what the City received of <br />the taxpayers property taxes. Mr. Brager showed a video regarding all the <br />services that the City provides. Brager pointed out the revenues that <br />finance City services. These revenues basically are received from the taxes <br />and state aids. Brager stated that the tax rate will not change in 1993. <br />The City has tried to keep the tax rate relatively stable over the years. <br />Mayor Linke stated that 1.5% of this year's was going to come out of <br />reserves but last week the City was notified that it would be receiving a <br />ocal government aid payment because of the Mega Mall doing better than <br />anticipated. Because of the 1/2% sales tax that was added, the City is <br />looking at approximately an additional $47,700 coming to the City this year. <br />The City Council decided Monday night to take that money and put it in this <br />year's budget so that reserve funds did not have to be used to buy down <br />property taxes. The City's reserves are getting low. <br />Don Brager stated that operational costs will go up in City water rates by <br />$.05 and approximately 4% in City sewer rates. The City's practice has been <br />to hold a separate hearing on those funds. <br />Mayor Linke thanked staff for a great presentation. <br />MOTION/SECOND: Quick/Blanchard to adopt Resolution No. 4312 Adopting the <br />1993 City Operating Budget <br />VOTE: 4 ayes 0 nays Motion Carried <br />MOTION/SECOND: Line/Wuori to adopt Resolution No. 4313 Certifying the 1993 <br />General Fund Property Tax Levy <br />VOTE: 4 ayes 0 nays Motion Carried <br />MOTIONJSECOND: Quick/Wuori to adopt Resolution No. 4314 Certifying the 1993 <br />iBonds and Interest Tax Levy <br />~7OTE: 4 ayes 0 nays Motion Carried <br />