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RESOLUTION 08 - <br />A RESOLUTION FOR THE CITY OF ELK RIVER <br />A RESOLUTION AUTHORIZING THE PROPOSED PROPERTY TAX LEVY <br />FOR COLLECTION IN 2009 <br />WHEREAS, the Elk River City Council has reviewed the City's anticipated <br />expenditures for all funds in 2009; and, <br />WHEREAS, the Elk River City Council has considered projected revenues for <br />all funds in 2009; and, <br />WHEREAS, revenues from sources other than property taxes are <br />not sufficient <br />to meet anticipated expenditures of all funds; and, <br />WHEREAS, debt levies have been adjusted or cancelled based <br />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 2009: <br />Levy <br />General Fund <br />$ 9,349,609 <br />PERA Employer Rate Increase <br />76,915 <br />Library <br />85,400 <br />Surface Water Management <br />50,000 <br />City Special Assessments <br />17,356 <br />1994 Storm Sewer Bonds <br />116,645 <br />2005 Improvement Bonds <br />88,400 <br />2007 Improvement Bonds <br />121,748 <br />2007 Certificate of Indebtedness <br />110,644 <br />2006 Certificate of Indebtedness <br />92,465 <br />2005 Certificate of Indebtedness <br />149,612 <br />Public Safety Lease Revenue Bonds <br />603,254 <br />Economic Development Tax Abatement <br />222,200 <br />TOTAL <br />$11,084,248 <br />Passed and adopted by the City Council of the City of Elk River this 8th <br />day of September, 2008. <br />Stephanie Klinzing, Mayor <br />ATTEST: <br />Tina Allard, City Clerk <br />