RES 07-05 RESOLUTION 07 - 05
IIII
A RESOLUTION OF THE ELK RIVER
ECONOMIC DEVELOPMENT AUTHORITY
A RESOLUTION ESTABLISHING THE 2008 REFERENDUM TAX LEVY AS
APPROVED BY VOTERS FOR 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$310,215 for taxes
payable in 2008 for the purposes of funding the debt service on $12,000,000 of bonds as
IIIapproved by voters to build a recreational facility to be leased to the YMCA.
Passed and adopted by the Elk River Economic Development Authority this 10`h day of
September,2007.
/
LA
/A j
11 o toll,PrCnt
A 1'1'EST:
e;e
lC:,
Catherine Mehe c , Executive Director
III
S:\EDA\DOCUMENT\RESOLUTI\EDA levy Resolutions\EDALEVO8ymca.doc