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Fe CASE # 2. ADOPT RESOLUTION APPROVING PROPOSED 2008 PAYABLE TAX LEVY By: Diana Lund, Finance Officer Background: Proposed 2008 Payable Tax Levy Proposed Tax Levies: General Fund Levy EDA Levy (Included in General Levy) Debt Service Levy - CIP Bond- (Fire Station #1) (Being Requested) Certificates ofIndebtedness (2003 Cap Equip Cert) ($172,200 funded via Equipment Revolving Fund) Certificates ofIndebtedness (2004 Cap Equip Cert) ($77,543 funded via Equipment Revolving Fund) Certificates of Indebtedness (2005 Cap Equip Cert) (Being Requested Certificates of Indebtedness (2006 Cap Equip Cert) (Being Requested) Debt Service Levy - Lease Revenue Bond- (Municipal Center) (Being Requested) $7,610,338 393,375 149,696 o o 235,200 174,154 453,062 Drainage District Levy (Mississippi Subdrainage) 43.348 TOT AL PROPOSED LEVY - 2008 $9.059.173 The attached resolution, as it is presented, reflects a levy of$9,059,173. While the proposed levy can always be reduced, it cannot be increased without "higher" level approval through an appeals process. Therefore, it is staffs position that the maximum proposed levy be adopted at tonight's meeting at the level proposed. The proposed levy must be certified to Anoka County by Friday, September 14,2007. Therefore, the Council must make a decision at tonights meeting as to the amount of this levy. Scheduling Budget Public Hearing Dates The City of Ramsey's 2008 public hearing to consider the 2008 budget and tax levy must be held between November 29 and December 20, 2007, and the date of the initial hearing must not conflict with the dates selected by the county, school districts or special taxing districts, although the continuation hearing may . We have received notice from Anoka County that the other governmental units have set the following hearing dates: