BY COUNCILOR STAUBER:
RESOLVED, that pursuant to Minnesota Statutes, Section 275.065, the city council adopts the following proposed tax levy:
1. The sum to be raised by taxation for the year 2006
for general operations is hereby determined to be the sum of
2. There will be levied for the support of the general
fund the sum of
Section 3. For the payment of debt, there will be levied for the general obligation debt fund the sum of $3,899,900.
Section 4. That pursuant to Laws of Minnesota 1971, Chapter 824, to pay for the portion of the cost of local improvements which will not sustain a special assessment, there will be levied for the permanent improvement fund the sum of $495,000.
STATEMENT OF PURPOSE: This resolution sets the maximum property tax levy for the year 2006. The proposed levy of $11,638,200 is 8.46 percent higher than the 2005 levy and reflects an overall net increase of $907,800. The breakdown of the net change is an additional $536,100 for general operations of the city; and $196,700 for support of the neighborhood street improvement program; no additional dollars for debt service on general obligation bonds; and $175,000 more for the permanent improvement fund.
The city council must approve and certify a proposed tax levy to St. Louis County no later than September 15. The council must adopt the final levy in December of the same or a lesser amount.