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November 24, 1986 <br />Page 2 <br />r� <br />Year <br />1987 <br />1988 <br />1989 <br />1990 <br />1991 <br />1992 <br />1993 <br />Financing <br />Required <br />$1,277,000 <br />$ 282,000 <br />$ 580,000 <br />$ 337,000 <br />$ 289,000 <br />$ 161,000 <br />$ 48,000 <br />Levy <br />Required <br />22.60 Mills <br />4.99 Mills <br />10.26 Mills <br />5.96 Mills <br />5.11 Mills <br />2.85 Mills <br />0.85 Mills <br />The costs of financing both the Parks and Storm Water Plans, <br />as presented, by a property tax levy and it's effect on the <br />overall City property tax levy is presented below. The <br />Operations and Debt Service Levy is assumed to increase at a <br />rate of 4% annually. <br />EFFECT OF <br />PARKS 6 STORM <br />WATER IMPROVEMENTS <br />ON CITY TAX <br />LEVIES <br />Year <br />Parks <br />Storm Water <br />Operations <br />Total <br />Levy <br />Levy <br />Debt Service <br />City <br />Levy <br />Levy <br />1987 <br />-- <br />22.60 <br />13.94 <br />36.54 <br />1988 <br />1.67 <br />4.99 <br />14.49 <br />21.15 <br />1989 <br />1.27 <br />10.26 <br />15.07 <br />26.60 <br />1990 <br />1.25 <br />5.96 <br />15.68 <br />22.89 <br />1991 <br />1.39 <br />5.11 <br />16.30 <br />22.80 <br />1992 <br />1.32 <br />2.85 <br />16.96 <br />21.13 <br />1993 <br />-- <br />0.85 <br />17.63 <br />18.48 <br />The effect of full financing of these projects through the <br />property tax levy is to create an overwhelming burden upon <br />City tax payers. Clearly, full financing of these projects as <br />