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RESOLUTION 10 - <br />A RESOLUTION FOR THE CITY OF ELK RIVER <br />A RESOLUTION AUTHORIZING THE PROPOSED PROPERTY TAX LEVY <br />FOR COLLECTION IN 2011 <br />WHEREAS, the Elk River City Council has reviewed the City's anticipated <br /> expenditures for all funds in 2011; and, <br />WHEREAS, the Elk River City Council has considered projected revenues for <br /> all funds in 2011; and, <br />WHEREAS, revenues from sources other than property taxes are not sufficient <br /> to meet anticipated expenditures of all funds; and, <br />WHEREAS, debt levies have been adjusted or cancelled based on revenue <br /> collections and projections. <br />NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Elk River that <br /> the following amounts are the maximum to be levied as property taxes <br /> payable in 2011: <br /> Levy <br /> General Fund $ 9,665,436 <br /> PERA Employer Rate Increase 93,077 <br /> Library 63,100 <br /> Surface Water Management 50,000 <br /> City Special Assessments 17,767 <br /> 2005 Improvement Bonds 85,100 <br /> 2007 Improvement Bonds 119,516 <br /> Public Safety Lease Revenue Bonds 591,142 <br /> Economic Development Tax Abatement 427,253 <br /> TOTAL $11,112,391 <br />Passed and adopted by the City Council of the City of Elk River this 13th <br />day of September, 2010. <br />Stephanie Klinzing, Mayor <br />ATTEST: <br />Tina Allard, City Clerk <br />