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~ e Sc~ (~~ ~.~~c,~ <br />RESOLUTION 07 - <br />A RESOLUTION FOR THE CITY OF ELK RIVER <br />A RESOLUTION AUTHORIZING THE PROPOSED PROPERTY TAX LEVY <br />FOR COLLECTION IN 2008 <br />WHEREAS, the Elk River Ciry Council has reviewed the City's anticipated <br /> expenditures for all funds in 2008; and, <br />WHEREAS, the Elk River City Council has considered projected revenues fox <br /> all funds in 2008; 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, THER EFORE, BE IT RESOLVED by the City Council of the City of Elk River that <br /> the following amounts axe the maximum to be levied as property taxes <br /> payable in 2008: <br /> Lev <br /> General Fund $ 9,139,350 <br /> Library 78,350 <br /> Surface Water Mgmt. 100,000 <br /> City Special Assessments 18,286 <br /> 1994 Storm Sewer Bonds 1 ] 7,380 <br /> 2005 Improvement Bonds 89,900 <br /> 2005 Certificate of Indebtedness 155,478 <br /> 2006 Certificate of Indebtedness 95,569 <br /> 2007 Certificate of Indebtedness 112,226 <br /> Public Safety Lease Rev. Bonds 634,440 <br /> 2007 Improvement Bonds 122,864 <br /> Economic Development Tax Abatement 97,168 <br /> TOTAL LEVY $ 10,761,311 <br />Passed and adopted by the City Council of the Ciry of Elk River this 10th <br />day of September, 2007. <br />Stephanie Klinzing, Mayor <br />ATTEST: <br /> <br />Tina Allard, Ciry Clerk <br />