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AGENDA ITEM #5 <br /> REPORT TO <br /> CITY COUNCIL <br /> Date: December 7, 2004 <br /> Subject: Truth and Taxation Public Hearing <br /> Report: The purpose of the Truth and Taxation Hearing is <br /> to review the City's proposed budget and tax levy for 2005 <br /> and to receive public comment on the budget and levy. <br /> �-- Following public comment, and prior to closing the public <br /> hearing, a subsequent hearing must be scheduled to <br /> formally adopt the 2005 tax levy and budget. This meeting <br /> must be held prior to December 20. <br /> Council Action Requested: Council motion calling a <br /> special meeting for the subsequent hearing on the 2005 tax <br /> levy and budget. <br />