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AGENDA ITEM #5 <br /> REPORT TO <br /> CITY COUNCIL <br /> Date: December 18, 2007 <br /> Subject: Final Levy Adoption <br /> Report: At the December 4th Council meeting the Council <br /> held the Truth In Taxation hearing for the 2008 budget and' <br /> levy. The Council reviewed and took public comment on <br /> the proposed general fund levy of $1,458,000. This levy <br /> represents a 6.72% increase from the 2007 levy and a <br /> decrease in the City's tax rates as indicated on the attached <br /> information. <br /> The Council also reviewed the HRA Levy of $31,000. This <br /> levy is an increase of $1,200 from the 2007 levy. <br /> Council Action Requested: Adoption of the attached <br /> resolutions adopting the general fund levy and the HRA <br /> levy. <br />