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• <br /> MEMORANDUM <br /> DATE: _ August 28, 1998 <br /> TO: Mike Mornson, City Manager <br /> FROM: Roger Larson, Finance Director <br /> ITEM: PROPOSED 1999 TAX LEVY <br /> Attached is resolution#98-070 setting the 1999 proposed tax levy. At the August work <br /> session, staff discussed with Council that the State had established a preliminary levy <br /> limit of$1,616,147. <br /> Final notification from the State indicates the maximum levy limit for 1999 is <br /> • $1,625,028 (an increase of$8,881). <br /> Per your direction, the proposed levy resolution was prepared using the preliminary <br /> levy amount of$1,616,147. Council has the option approving the resolution as is, or <br /> amending it to the final levy limit of$1,625,028. <br /> The HRA levy for administrative costs totals $15,535 ($20,000 less $4,465 HACA <br /> credit). <br /> The on-going 10 year road improvement project levy for 1999 totals $237,206. <br />