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Date: 12/03/07 <br />Trutltr in Taxa�ion Heari�g <br />REQi�EST FOR COUNC�L ACTIOi�T <br />2 <br />� <br />Date: 12103/200'7 <br />I�em No: <br />6 Department Approval: <br />� <br />S <br />Manager Approved: <br />r <br />Agenda Sectio��: <br />TNT Hearing <br />14 Ttem Descriptia�: Truih-in-Taxation Hearin� on t�e 2QQ8 �'�roposed Tax Levy and Budget <br />11 <br />12 <br />13 Backgarou�d <br />]� MN S�ate Statul:e 275.065 requires all cities wrth a pop�zlation nf 500 or greater 1:a �old a public <br />15 hearz�g ta co�sider the fallor�ing yearr's tax �evy and bur�get. The p�rpase of this `Txuth-in- <br />16 Taxation' (TNT) Hearing is to �rovide an oppartunity for ihe public tn co�tz��nt and inake <br />I 7 recammenc�ations or� t�ie City's proposed spending plan. <br />18 <br />I� <br />20 <br />21 <br />22 <br />23 <br />24 <br />25 <br />z� <br />2'7 <br />28 <br />29 <br />30 <br />31 <br />32 <br />33 <br />34 <br />3S <br />36 <br />37 <br />38 <br />39 <br />�Q <br />The TNT process involves up to three sepaxa�e rr�eetings as fallpws: <br />1) The Initial �earang is sche <br />proposed Ie�y and l��dget �� <br />recommendations. The Cit; <br />sck�ed��ed meeting; Ixowever, <br />the regular council rnee�ing <br />�uled io allow Ci�y �fficials an opportunity ta preseiit the <br />� the public and to %ear p�blic carnrne�t, questions and <br />may hald fhe inatial �earing on the night af a regularly <br />the City shauld co�vene t�e �earing and adjourz� to conduci; <br />2) If �he initial hearing is not s�fficient for all public commeiat ta �e heard, a Contin�xation <br />��aring can be �:e1d. A�ain, the Ciiy should canvene f�ie hearing and adjourn ta conduct <br />the regular co�ncil �neeting (i�app�icable) <br />3) The official acioption of the fi�al Ievy and budget m�st occur at tha Subsequent I�eaari�g. <br />The separat�an af the �ub�ic coz��ent hearings (initial and cantinuation) is i�te�ded to <br />a11ow ti�a�e �pr the Cit� Co�cil !o caz•efixlly consider and possibly incorpora�e the eoncerns <br />or issues araised by ta�payers <br />Tonight's meeti�g serves as the Inrtial I3earing. At �he ca;�cl�sion of the hearing, if no further <br />d�scussion is needed, the City Councxl may waive the Co��tinuation Hearing, and rrzove farward <br />to the Subsequez�t Hearing scheduled far Manday, Dece�nbex 17, 2007, a� which time t�ae <br />Couneil will adopt the Final 2008 Tax Levy and B�dget. <br />41 �tec��i�-ed �'r�esea�taiim�. <br />42 At the TNT Hcaring, City C7fficials are rec��ired to present an averv�ew of the tax levy, budget, <br />43 a�d budgei; impact on ta��aayers. In aecordanee witk� this req�iremen�, Staff will r�ake a bz-ief <br />44 presentation, and in�rite all interested individual,s to submit commer��s ar questio��s. <br />4�5 <br />