RES 91-1 • RESOLUTION 91 - 1
A RESOLUTION OF THE ELK RIVER
ECONOMIC DEVELOPMENT AUTHORITY
A RESOLUTION FOR THE ELK RIVER ECONOMIC DEVELOPMENT
AUTHORITY IN AND FOR THE CITY OF ELK RIVER, MINNESOTA
WHEREAS, Minnesota Statute Section 469 . 107 , Subdivision 1,
authorizes the Economic Development Authority to levy
to fund the Authority' s anticipated budget needs for
the next fiscal year; and,
WHEREAS, the 1991 Laws, Chapter 291 , Section 23, states that a
special taxing district 's payable 1992 levy for
nondebt purposes must not exceed its payable 1991 levy
by more than 3%; and,
WHEREAS, the Elk River Economic Development Authority has
adopted its budget and will forward such to the City
of Elk River pursuant to Minnesota Statutes, Section
469 . 100, Subdivision 2.
NOW, THEREFORE, BE IT RESOLVED by the Economic Development
Authority in and for the City of Elk River, Minnesota,
that it hereby requests the City Council of the City
of Elk River to levy a tax in the amount of the lesser
of . 01813% of the taxable market value in the City for
the year 1991 or 103% of the Elk River Economic
Development Authority levy for taxes payable in 1991
for the benefit of the Authority to be used for
Economic Development Authority purposes as provided in
the Statute.
Passed and adopted by the Elk River Economic Development
Authority this 12th day of August, 1991 .
4/I
ArV � cgoll, 1T sident
ATTEST:
c-;?/„4.?
Sandra A. Thackeray, City lerk