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15 <br />Total Levy: <br />The 2008 levies are as follows <br />Truth -inn -Taxation: <br />This year, St. Anthony is exempt from bolding a Truth -in -Taxation bearing. The <br />maximum inflationary levy allowed by the State for St. Anthony is $4,242,359. The <br />City's total levy applicable to the inflationary increase is $47,771 tinder the threshold <br />($4,305,088 less the $110,500 I -IRA Levy = $4,194,588). <br />The last time this happened was in 2006 and the City did not hold a hath -in -taxation <br />hearing. The presentation of the operating budget and approval of the property tax levy <br />was done at the normal December scheduled meeting dates and times. <br />Summary: <br />The information necessary to compile a reasonable 2008 operating budget and property <br />tax levy is a representation of implementing Financial Management Plan principles <br />established at Council work sessions on May 31" and July 31st. <br />Levy <br />Increase/(Decrease) <br />General Fund Levy <br />$2,796,900 <br />$136,100 <br />Road Improvement Levy <br />$ 968,031 <br />$ 82,197 <br />Certificate of Indebtedness (Debt Paid Off) <br />$ - 0 - <br />($ 91,500) <br />Lease Revenue Bonds <br />$ 394,417 <br />$ 525 <br />HRA Levy <br />$ 110,500 <br />$ 55,000 <br />Tax Abatement — Central Park <br />$ 27,740 <br />($ 766) <br />PLRA Levy <br />$ 7,500 <br />$ - 0 - <br />$4,305,088 <br />$181,556 <br />Truth -inn -Taxation: <br />This year, St. Anthony is exempt from bolding a Truth -in -Taxation bearing. The <br />maximum inflationary levy allowed by the State for St. Anthony is $4,242,359. The <br />City's total levy applicable to the inflationary increase is $47,771 tinder the threshold <br />($4,305,088 less the $110,500 I -IRA Levy = $4,194,588). <br />The last time this happened was in 2006 and the City did not hold a hath -in -taxation <br />hearing. The presentation of the operating budget and approval of the property tax levy <br />was done at the normal December scheduled meeting dates and times. <br />Summary: <br />The information necessary to compile a reasonable 2008 operating budget and property <br />tax levy is a representation of implementing Financial Management Plan principles <br />established at Council work sessions on May 31" and July 31st. <br />