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<br />I! <br /> <br />.... <br /> <br />j i <br /> <br />RESOLUTION NO. 02-075 <br /> <br />City of New Brighton <br />Ramsey County <br />State of Minnesota <br /> <br />Resolution Declaring the Maximum Preliminary Tax Levy for Taxes Payable in 2003 <br /> <br />Whereas, the City has completed initial work on the 2003 - 2005 Strategic Plan; <br /> <br />Whereas, the preliminary budget requires a proposed tax levy of$5,498,750 for taxes payable <br />in 2003; <br /> <br />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 />$3,606,775 <br />1,390,000 <br />501.975 <br /> <br />Total Levy <br /> <br />$5.498.750 <br /> <br />Whereas, a maximum of $4,500 may be levied for the Lake Diane Special District; <br /> <br />Whereas, the proposed levy is $337,905 above the levy for taxes payable in 2002; <br /> <br />Whereas, the increase in the levy is caused by the following factors: <br /> <br />Operational cost increases/loss of non-tax revenue <br />Changes to Debt Service <br /> <br />$177,905 <br />160.000 <br /> <br />Total Levy Increase <br /> <br />$337.905 <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 />1. The proposed maximum levy for taxes payable in 2003 shall be $5,498,750. <br /> <br />2. The proposed levy represents an increase of $377,905 over the levy for 2002. <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 public informational hearing will be held December 9th, at 7:30 p.m., <br />and a continuation hearing, if necessary, will be held December 17th at 6:00 p.m. <br />