HomeMy WebLinkAboutResolution 4528 ��
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��b. � CITY of ORONO
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'� RESOLUTION OF THE CITY COUNCIL
���kE Hp4�� � NO. � � � �a .
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A RESOLUTION AUTHORIZING �
A TAX RATE FOR THE 2000 TAX LEVY COLLECTIBLE IN 2001
THAT IS GREATER THAN THE "LEVY CERTIFICATION TAX'RATE"
FOR THE 1999 TAX LEVY COLLECTIBLE IN 2000
,
� . WHEREAS, new State legislation has created a new tax rate term called the "Levy
Certification Ta�c Rate" that is substantially different from the standard tax rate. The Levy
Certification Tax Rate is calculated using the current year's t�capacity and the prior year's tax levy:
This tax rate is then compared to a tax rate calculated using the current year's tax capacity and the
upcomin�year's tax levy. The purpose of the Levy Certification Tax Rate is to show the impact of
the tax levy on the tax rate independent of any increase in tax capacity; and
WHEREAS,the new State legislation requires that if a City's tax rate for the year 2001 tax
levy is greater than the Levy Certification Tax Rate for the year 2000 tax levy,the City must adopt .
a resolution authorizing an increase in the tax rate for the tax levy collectible in 2001.
� NOW; THEREFORE, BE IT RESOLVED, by the City�Council of the City of Orono,
Cotuity of Hennepin,Minnesota,that the County Auditor is authorized to fix a property tax rate for
ta�es payable in the year 2001 that is higher than the "Levy Certification Tax Rate" calctilated
pursuant to Minnesota Statutes 275.078 for the City for taxes levied in 1999, collectible in 2000.
Adoption of this resolution does not prohibit the City from certifying a final levy that will
result in no tax rate increase or a tax rate decrease.
• The City Clerk is hereby instructed to transmit a certified copy of this resolution to the
County Auditor of Hennepin County,IVlinnesota.
Adopted by the City Council of the City of Orono, Minnesota at a regular meeting held
October 9, 2000. � � � . .
ATTEST: Gabri abbour, ayo
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Linda S. Vee, City Clerk
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