HomeMy WebLinkAboutResolution 4360 . �� • ^
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�b - CITY of ORONO
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� G'� . RESOWTION OF THE CITY COUNCIL
�9kESH�4�' NO. � � e� � O
A RESOLUTION AUTHORIZING
A TAX RATE FOR THE 1999 TAX LEVY COLLECTIBLE IN 2000
THAT IS GREATER THAN THE "LEVY CERTIFICATION TAX RATE"
FO�,t THE 1998 TAX LEVY COLLECTIBLE IN 1999
WHEREAS, new State legislation has created a new tax rate term called the "Levy
Certification Tax Rate" that is substantially different from the standard tax rate. The Levy
Certification T�Ra.te is calculated using the current year's tax 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
. u�comin�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 2000 tax
levy is greater than the Levy Certification Tax Rate for the year 1999 tax levy, the City must adopt
.. a resolution authorizing an increase in the tax rate for the tax levy collectible in 2000.
� NOW, THEREFORE, BE IT RESOLVED, by the City Couricil of the City of Orono,
County of Hennepin,Minnesota, that the County Auditor is authorized to fix a property tax rate for
taxes payable in the yeax 2000 that is higher than the "Levy Certification Tax Rate" calculated
pursuant to Minnesota Statutes 204B.135 for the City for taxes levied in 1998, collectible in 1999.
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, Minnesota.
Adopted by the City Council of the City of Orono, Minneso�°a at. -ieg lar meeting held
. October 11, 1999. � �
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ATTEST: harles Kelley, .�lcting 1Vlayor '
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Lind S. Vee, City Clerk
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