RES 08-07 • RESOLUTION 08 - 07
A RESOLUTION OF THE ELK RIVER
ECONOMIC DEVELOPMENT AUTHORITY
A RESOLUTION ESTABLISHING THE 2009 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$235,268 for taxes
payable in 2009 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 11th day of
August,2008.
(0)181--)41‘..—)
Pat Dwyer,President
ATTEST:
rWet /07
Catherine Mehelich,Executive Director
•
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