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Resolution 19- 40 <br />A Resolution of the City of Elk River Authorizing the Preliminary Property <br />Tax Levy for Collection in 2020 <br />WHEREAS, the Elk River City Council is required to establish a preliminary tax levy for <br />taxes payable in 2020 by September 30,2019 and certify the preliminary tax levy to the <br />Sherburne County Auditor; and, <br />WHEREAS, the Elk River City Council has reviewed the City's anticipated expenditures <br />for all funds in 2020; and, <br />WHEREAS, the Elk River City Council has considered projected revenues for all funds in <br />2020; and, <br />WHEREAS, revenues from sources other than property taxes are not sufficient to meet <br />anticipated expenditures of all funds; and, <br />WHEREAS, debt levies have been adjusted or cancelled based on revenue collections and <br />projections. <br />NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Elk <br />River, Minnesota, as follows: The following amounts are the maximum to be levied as <br />property taxes payable in 2020: <br />Levy <br />General Fund $ 12,026,100 <br />Library 69,000 <br />2010A G.O. Capital Improvement Plan Bonds 619,920 <br />Economic Development Tax Abatement 138,550 <br />Lake Orono Dredging 100000 <br />TOTAL $ 12.953.570 <br />Passed and adopted this 3" day of September 2019. <br />ATTEST: <br />Tina Allard, Ci Clerk <br />Jol J. Diez May r <br />P0VEBEB 81 <br />NATURE <br />