RES 10-04 EDA• RESOLUTION 10-04
A RESOLUTION OF THE ELK RIVER
ECONOMIC DEVELOPMENT AUTHORITY
AMENDED RESOLUTION ESTABLISHING THE 2011 REFERENDUM TAX
LEVY AS APPROVED BY VOTERS FOR A RECREATIONAL FACILITY TO BE
LEASED TO THE YMCA
WHEREAS, C-n September 12, 2006, the voters of the City of Elk River approved a
referendum pledging the City's full faith, credit, and resources to
$12,000,000 of bonds for a recreational facilityto be leased to the
YMCA; and
WHEREAS, the City has received a Landfill Abatement LegacyGrant from Sherburne
Countyfor certain qualifying recycled materials and these Grant funds
have been applied to reduce the debt service tax levy on the $12,000,000
of bonds.
NOW, THEREFORE, BE IT RESOLVED by the Economic Development Authority in
and for the City of Elk River, Minnesota, that it hereby levies a tax of $256,956 for taxes
payable in 2011 for the purposes of funding the debt service on $12,000,000 of bonds as
• approved byvoters to build a recreational facilityto be leased to the YMCA.
Passed and adopted by the Elk River Economic Development Authority this 9~' day of
August, 2010.
Ron Touchette, EDA President
ATTEST:
,~ Ci~
Catherine Mehehch, Executive Director
•