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,: .). " RESOLUTIONNO, 95-074 State of Minnesota County of Ramsey City of New Brighton RESOLUTION COMPLYING WITH THE TERMS OF THE TRUTH IN TAXATION PROGRAM Whereas, the City is required to comply with the terms of the State's Truth inTaxation Program; Whereas, the City does endorse the intent of this program which is to encourage public involvement in local budgeting, especially in the area of taxation; Whereas, a public hearing is required as part of this program; Whereas, declaration of a maximum tax levy also is required; Now, therefore be it resolved that: 1, The City will hold the required public hearing on December 7th with the hearing continued to December 18th, if necessary. The hearings will start at 7:30 p,m. and will be held in the Council Chambers. 2. The City will adopt the rmal tax levy and approve the 1996 Annual Budget at a special Council meeting to be held on December 19th. The special meeting will start at 7:30 p.m. and will be held in the Council Chambers. 3. The maximum tax levy for 1996 will be $2,864,200 which represents an increase of 8% above the levy for 1995. 4. The increase in the tax levy is necessary to pay for existing services and to finance service enhancements. 5. The preliminary budget for 1996 shall be as shown in Attachment A. 6, Attachment B contains a listing of possible service enhancements, 7. Attachment C shows the proposed levy for bonded debt purposes. The scheduled reductions in this levy are possible because of the availability of other revenues that have been irrevocably pledged for debt retirement. Adopted this 12th day of September, 1995. ~ ATTEST: -~~. .. ..,.~ It.. . ~.. :'\. ". ,,:.;.~....., k , ' ,t.,.. \~I , .ll J . Margaret A. Egan Finance Directorl (k--