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RESOLUTION 11 - 76 <br />A RESOLUTION FOR THE CITY OF ELK RIVER <br />A RESOLUTION AUTHORIZING THE PROPOSED PROPERTY TAX LEVY <br />FOR COLLECTION IN 2012 <br />WHEREAS, the Elk River City Council has reviewed the City's anticipated <br />expenditures for all funds in 2012; and, <br />WHEREAS, the Elk River City Council has considered projected revenues for <br />all funds in 2012; 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 2012: <br />L~ <br />General Fund $ 9,142,170 <br />Library 63,100 <br />Surface Water Management 50,000 <br />City Special Assessments 17,090 <br />2005 Improvement Bonds 88,600 <br />2007 Improvement Bonds 118,400 <br />G.O. Capital Improvement Plan Bonds 367,951 <br />Economic Development Tax Abatement 428,504 <br />TOTAL $ 10,275,815 <br />Passed and adopted by the City Council of the City <br />day of December, 2011. C1 <br />ATTEST: <br />Tina Allard, City Clerk <br />River this 5th <br />