CC RES 07-066 RESOLUTION SETTING THE CITY OF ST. ANTHONY PROPOSED 2008 TAX LEVY AND BUDGET IN COMPLIANCE WITH THE TRUTH IN TAXATION ACT

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CITY OF ST ANTHONY RESOLUTION No. 07-066 • A RESOLUTION SETTING THE CITY OF ST. ANTHONY PROPOSED 2008 TAX LEVY AND BUDGET IN COMPLIANCE WITH THE TRUTH IN TAXATION ACT WHEREAS, State Law requires that the City of St. Anthony provide Hennepin and Ramsey Counties with a proposed certified 2008 property tax levy and budget;and WHEREAS, the City Council discussed key financial issues and budgeting goals at their January, 2007, goal setting session, held a Public Hearing on April 24, 2007 and reviewed the 2008 tax levy and budget at its July 31,2007,work session; and WHEREAS, the City Council further reviewed its Financial Management Plan at the August 14, 2007, Council meeting and confirmed the ability to pay off of the 1997A Road Improvement Bond resulting in a$54,106.00 reduction in the road levy; and WHEREAS, the furnishing of this proposed tax levy and budget is made contingent upon any revisions being allowed if current law is modified; and WHEREAS, the proposed levy is less than the Minnesota Department of Revenues requirement to hold a Truth-in-Taxation public hearing and WHEREAS, the City is not required to hold a Truth-in-Taxation public hearing, the December Council meetings will be held at their regularly scheduled date and times. • NOW,THEREFORE, BE IT RESOLVED that: 1) The collectible 2008 proposed property tax levy is: General Fund Property Tax Levy $2,796,900.00 Road Improvement Levy $ 968,030.77 Lease Revenue Bonds/Public Facilities $ 394,417.00 Housing&Redevelopment Authority Levy $ 110,500.00 Tax Abatement Levy- Central Park Bonds $ 27,740.00 PERA Rate Increase Levy $ 7,500.00 Total 2008 Proposed Tax Levy $4,305,087.77 2) The 2008 General Fund Proposed Budget totals $4,998,600.00. Adopted this 11th day of September,2007 Wa'yTr ATTEST: ku"AQ6AU� City Clerk U V11 • Review for Administration: //Yv i y M age