BY COUNCILOR STEWART:
RESOLVED, that pursuant to Minnesota Statutes, Sec. 275.065, the city council adopts the following proposed tax levy:
Section 1. The sum to be raised by taxation for the year 2008 for Duluth transit authority special taxing district’s operations is hereby determined to be the sum of $1,316,900 which sum is levied against the taxable property of the city of Duluth and appropriated to the various accounts as set forth in the following section, viz:
Section 2. That pursuant to Minnesota Statutes, Sec. 485A.31, Subd. 1, there will be levied for transit operations the sum of $1,316,900.
STATEMENT OF PURPOSE: This resolution sets the proposed property tax levy for the year 2008 for the special taxing district, Duluth transit authority (DTA). Although the transit authority is a special taxing district per Minnesota Statute 275.066, the city is obligated through council resolution to levy on their behalf.
The full levy allowable by law in Minnesota State Statute 458A.31 of .07253 percent of market value for 2008 is $3,824,500 offset by $88,400 for the payment of debt service on transit bonds, for a total possible levy request of $3,736,100. The DTA, in reviewing their needs for 2008 however, are opting not to request the full levy available. Instead, the DTA is requesting $1,316,900 for the fourth consecutive year.