RES 11-02 EDARESOLUTION 11-02
ARE L TI N F THE ELK RIVER
SOU O O
ECONOMIC DEVELOPMENT AUTHORITY
AMENDED RESOLUTION ESTABLISHING THE 2012 REFERENDUM TAX
LEVY AS APPROVED BY VOTERS FOR A RECREATIONAL FACILITY TO BE
LEASED TO THE YMCA
WHEREAS, On 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 facility to be leased to the
YMCA; and
WHEREAS, the City has received a Landfill Abatement Legacy Grant from Sherburne
County for 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 $257,105 for taxes
payable in 2012 for the purposes of funding the debt service on $12,000,000 of bonds as
approved by voters to build a recreational facility to be leased to the YMCA.
Passed and adopted by the Elk River Economic Development Authority this 9~' dap of
August, 2011.
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Ron ouchette, President
ATTEST: r
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Annie Deckert, xecutlve Director