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City, N.D. – The city approved of the first reading for its 2012 budget at their regular meeting last week.

Valley City Auditor Avis Richter says the city is moving forward to reduce the mill levy in the proposed $9.5 million budget by 4 mills. Richter says the second and final reading of the budget will be held later.

In other action, the city approved a resolution authorizing the issuance of Improvement Warrants and exchanging them for a $4 million refunding improvement bond for 2011.