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The minimum levy necessary to operate the budget as recommended would be $1,357,830 and would result in an estimated tax capacity rate of 19.127, or a decrease of 2.17% from the 1995 rate. The attached resolution, as it is presented, reflects a maximum levy of $1,425,688 This levy includes the minimum dollars necessary to fund the General Fund budget as proposed and provides "working" room for continuing budget discussions prior to actual adoption in December. A levy at this level is estimated to result in a tax capacity rate of 20.083, or a 2.7% increase over the 1995 rate of 19.551. While the maximum proposed levy can always be reduced, it cannot be increased without "higher" level approval through an appeals process. Therefore, it is staff's position that the maximum pr.op, osed levy be adopted at tonight's meeting at a level above what is considered to be the minimum. The proposed maximum levy must be certified to Anoka County by Friday, September 15, 1995; therefore, the Finance Committee must make a recommendation to Council as to the amount of this levy. Scheduling Budget Public Hearing Dates The City of Ramsey's 1996 public hearing to consider the 1996 budget and tax levy must be held between November 29 and December 20, 1995, and the date of the hearing and possible reconvene date must not conflict with the dates selected by the county, school districts or special taxing districts. We have received notice from Anoka County that the other governmental units have set the following hearing dates: Toxing District Initial Hearing Date Reconven~ Hearing Date Anoka County Tuesday, December 12, 1995 Tuesday, December 19, 1995 ISD #11 (Anoka-Hennepin) Thursday, November 30, 1995 Thursday, December 7, 1995 ISD #728 (Elk River) Tuesday, December 5, 1995 Wednesday, December 13, 1994 Special Districts: Metro Agencies Monday, December 4, 1995 Monday, December 11, 1995 The dates that we are recommending for the City of Ramsey's 1996 public budget hearing and reconvene date (if necessary) are as follows: Initial Hearing Reconvene (if necessary) Wednesday, November 29, 1995 Wednesday, December 6, 1995 7:00 p.m. 7:00 p.m. In order to ensure that public comments received during the public hearing(s) are given due consideration, formal adoption of the levy and 1996 budget must occur at least one day after the initial or continuation hearing, but no later than December 28, 1995. We are recommending that the formal adoption occur at the regular City Council meeting on Tuesday, December 12, 1995. The public hearing dates must be certified to Anoka County by Friday, September 15, 1995; therefore, the Finance Committee must make a recommendation to Council as to the dates selected for the 1996 public hearing(s).