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<br />/ <br /> <br />I.' <br /> <br />~4 <br /> <br />RESOLUTION NO. 03-053 <br /> <br />City of New Brighton <br />Ramsey County <br />State of Minnesota <br /> <br />.. Resolution Declaring the Proposed Maximum Tax Levy for Taxes Payable in 2004 <br /> <br />Whereas, the City has completed initial work on the 2004 - 2006 Strategic Plan; <br /> <br /> <br />Whereas, the preliminary budget requires a proposed tax levy of$6,103,610 for taxes payable <br />in 2004; <br /> <br />i Whereas, the details for the proposed maximum tax levy are as shown here: <br /> <br />General operations <br />Bonded debt <br />Equipment certificates <br /> <br />$4,102,610 <br />1,510,000 <br />491,000 <br /> <br />j; <br /> <br />Total Levy <br /> <br />$6.103.610 <br /> <br />, , <br /> <br />I; <br />i' Whereas, the increase in the levy is the result of the following factors: <br /> <br />i \ <br /> <br />Loss of LGA <br />Changes to Debt Service <br /> <br />$495,835 <br />120,000 <br /> <br />i: <br />; I <br />. ,) <br /> <br />Total Levy Increase <br /> <br />$615.835 <br /> <br />Whereas, the proposed levy may represent an increase in the tax rate; <br /> <br />Whereas, the proposed levy is within the levy limit set by the State; <br /> <br />Now, therefore be it resolved that: <br /> <br />; ! <br /> <br />1. The proposed maximum levy for taxes, payable in 2004 shall be $6,103,610. <br /> <br />2. The proposed levy represents an increase of$615,835 over the levy for 2003. <br /> <br />3. The proposed levy for debt shall be as shown on Attachment A. The levy reductions are <br />possible because of the pledge of other resources. <br /> <br />4. A Truth in Taxation hearing will be held December 1st, at 7:30 p.m., and a continuation <br />hearing, if necessary, will be held December 8th at 7:30 p.m. <br /> <br />Adopted this 9th day of September, 2003. <br /> <br />~ <br /> <br />Steve Larson, Mayor <br /> <br />ATTEST: . <br />/fla1'f~,f~-~'le.{L, <br /> <br />Dan Maiers <br />Director of Finance and Support Services <br /> <br /> <br />Matt ew S. Fulton, City Manager <br /> <br />,; \COVNCJL IResolu,ions\2t)03\financc\04moxLEVYres,doc <br />