CHICAGO -- Minneapolis Mayor Sharon Sayles Belton wants to hike the city's property tax. by 1.5% and slash funds for the troubled Minneapolis Community Development Agency to help balance her $181 million budget for 1995.

The proposed budget, Sayles Belton's first, would raise spending 2% from the current level and calls for about $36.6 million of bonds to be issued next spring. Of the $36;6 million of general obligation bonds, about $16.4 million would be so-called net debt bonds to be paid with revenue from property taxes.

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