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MINUTES OF THE TRUTH IN TAXATION HEARING • <br />HELD AT 7:00 P.M. ON MONDAY, DECEMBER 8,1998 <br />IN THE ORONO COUNCIL CHAMBERS <br />approximately $13,000 dollars less then the proposed levy of $2,339,140 dollars. This would be a <br />4.5% levy increase versus the proposed 5.1% increase. <br />Mayor Jabbour indicated he had requested Moorse to determine the levy increase based on the cost <br />of living increase plus a factor for city growth. <br />Moorse indicated that projecting a 2% increase in the consumer price index plus a 1% city growth <br />factor would result in a 3% tax levy increase. This amount would be $2,291,884 dollars or a <br />reduction of $47,256 dollars from the preliminary approved levy. <br />Flint stated he could support the tax levy at $2,291,884, and asked staff to come back to Council with <br />a recommendation reflecting the tax levy at $2,291,884. <br />Council directed staff to reduce the tax levy to $2,291,884 for fmal adoption at the Council meeting <br />on December 14, 1998. <br />Mayor Jabbour asked if there were any questions or comments regarding the budget from the public. <br />There were no public comments. 0 <br />There being no further comments, Mayor Jabbour closed the hearing and announced that the <br />subsequent levy adoption hearing would be held at 7:00 p.m. on Monday, December 14, 1998. <br />ATTEST: Gabrie Jabbour, Mayor <br />Linda S. Vee, City Clerk <br />