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3-7 <br />MEMORANDUM <br />DATE: August 14, 1997 <br />TO: Mike Mornson, City Manager <br />FROM: Roger Larson, Finance Director <br />ITEM: SPECIAL LEVY FOR FLOODING PROBLEMS <br />I contacted Rich Garder from the Minnesota Department of Revenue and asked him the question <br />"Could St. Anthony levy additional dollars beyond its levy limit to fund water damage and <br />flooding problems within the City ?" <br />Mr. Garder indicated the City has two alternatives that would allow the City to levy beyond the <br />levy limit. They are: <br />1) The issuance of bonded debt. The annual levy to fund payment of the <br />principal and interest payments would have no affect on the general fund levy. <br />2) If the City does not issue bonds it can make application with the <br />Commissioner of Revenue (by September 15, 1997) for a Natural Disaster <br />Levy. These are reviewed and approved on a case by case basis. <br />If the special levy were endorsed by the State, it would have no affect on the <br />general fund levy. <br />I have attached a copy of Schedule I, which discusses the Natural Disaster Levy. <br />