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RESOLUTION NO <br />07-099 <br />City of New Brighton <br />County of Ramsey <br />State of Minnesota <br />Resolution Adopting the Proposed. Tax Levy for Taxes Payable in 2008 and the <br />Proposed 2008 Budgets and Setting the Dates for the Initial Truth in Taxation Hearing <br />and Continuation Hearing <br />Whereas, the City has completed initial work on the 2008 Budget, and <br />Whereas, the preliminary budget requires a proposed tax levy of $7,248,200 for taxes <br />payable in 2008, and <br />Whereas, the City is required to certify a proposed 2008 levy to Ramsey County on or <br />before September 15, 2007, and <br />Whereas, the proposed tax levy is the maximum that will be levied for 2008; the final 2008 <br />tax levy adopted in December may remain at this level or be reduced, and <br />Whereas, there will be no specific tax levies in 2008 for debt; debt service requirements for <br />2008 will be met with other financing sources, and <br />Whereas, proposed budgets have been prepared for 2008; the proposed 2008 budgets <br />adopted in December may be amended, and <br />Whereas, the City is required to set dates for its initial Truth in Taxation hearing and <br />Continuation hearing, if necessary. <br />Now Therefore Be It Resolved that: <br />1. The proposed levy for taxes payable in 2008 shall be $7,248,200. <br />2. There will be no separate specific tax levies for debt in 2008. <br />3. The attached proposed budgets for 2008 are approved. <br />4. A Truth in Taxation hearing will be held Monday, December 3rd, at 6:30 p.m., and a <br />continuation hearing, if necessary, will be held December 11"` at 6:30 p.m.