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CITY OF GEM LAKE RESOLUTION NO.2006-28 14 SEPTEMBER 2006 WHEREAS, the City Clerk has presented a (Proposed) Budget of $444,857 which includes a (Proposed) Tax Levy of $311,197 and a Debt Levy of $300,000 for fiscal and calendar year 2007 based upon best estimates of costs for running the City of Gem Lake in 2007; and WHEREAS, these estimates were reviewed by the City Council on 21 August, 2006 and 14 September, 2006 and amended based upon best information received from outside contractors and input from the City Council, and revised by the City Council on 14 September, 2006; and WHEREAS, the City Council did review the (Proposed) Budget and Tax and Debt Levy for 2007, including all revisions thereto as of the date first written. NOW THEREFORE BE IT RESOLVED, that the City Council of the City of Gem Lake does formally adopt the 2007 Preliminary General Fund Budget of $444,857 which includes a Net Property Tax Levy of $311,197 and a Net Debt Levy of $300,000 for 2007 as prepared by the City Clerk and amended by the City Council; and BE IT FURTHER RESOLVED that the City Clerk is charged with Certifying said Tax and Debt Levy to Ramsey County Property Taxation and other government bodies for whom this information is required. The foregoing Resolution was offered by Councilor Bosak and was supported by Councilor Schilling and was declared �f—I I—QoA nnnn tha fnllnwinn vntP• NAME EMEOTT WATSON SCHILLING RASMUSSEN BOSAK VOTE Aye Aye Aye Absent Aye ATTEST I, Frederic C. Magnuson, the duly qualified City Clerk of the City of Gem Lake, County of Ramsey, State of Minnesota, do hereby certify that the foregoing Resolution is a true and accurate representation of action taken by the City Council of the City of Gem Lake on the date first written. 0'xea�eaW�c e , /� Frederic C. Magnuson, City Clerk Certif ieb l.� Date efile: resolutions\2006Wo2006 28 Page 5 of 8