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Levy Limitations <br />The Minnesota Levy Limitations Law was implemented in 1972 and <br />restricts property tax increases each year. Since enactment, <br />various amendments to the law have passed, but the basic <br />principles still apply. The City is operating within the <br />authorized levy limitations as shown in the following table. <br />Payable in 1988 Payable in 1987 <br />Total Levy <br />Less special levies <br />Bond indebtedness <br />New industrial <br />commercial development <br />Subject to levy <br />limitations <br />Levy limitation <br />Local Government Aid <br />$5,000,000 <br />1,494,476 <br />$3,505,524 <br />53,838,843 <br />$4,789,813 <br />1,092,150 <br />96,032 <br />53,601,631 <br />53.874.014 <br />The following summary shows actual local government aid as a <br />percentage of budgeted general fund revenues and how the yearly <br />amounts vary due to changes in the formulas distributing the <br />aids. <br />Budgeted General <br />Fund Revenues <br />1988 <br />1987 <br />1986 <br />1985 <br />1984 <br />1983 <br />1982 <br />1981 <br />1980 <br />Proprietarp Operations <br />Enterprise Funds <br />$4,887,392 <br />$4,844,345 <br />4,774,970 <br />4,557,868 <br />4,294,589 <br />4,082,045 <br />3,858,439 <br />3,550,468 <br />3,256,698 <br />Local <br />Government Aid <br />$848,496 <br />$848,507 <br />803,071 <br />717,475 <br />676,863 <br />945,440 <br />817,712 <br />872,746 <br />915,732 <br />� <br />17.4 <br />17.5 <br />16.8 <br />15.7 <br />15.8 <br />23.2 <br />21.2 <br />24.6 <br />28.1 <br />Enterprise Funds account for the financing of services to the <br />general public in which all or most of the costs involved are <br />paid in the form of charges by the user of such service. Except <br />for ownership, these funds closely resemble a privately-owned <br />business. <br />The Sanitary Sewer Fund accounts for the operation of the sewer <br />system with 9,233 customers currently being billed. The City <br />reviews its financial position and the rate structure annually. <br />10 <br />