RES 91-2 RESOLUTION 91 - 2
RESOLUTION OF THE CITY OF ELK RIVER
HOUSING AND REDEVELOPMENT AUTHORITY
A RESOLUTION ESTABLISHING THE TAX LEVY FOR THE ELK RIVER
HOUSING AND REDEVELOPMENT AUTHORITY FOR COLLECTION IN 1992
WHEREAS, Minnesota Statute Section 469 . 033 allows the Housing
and Redevelopment Authority to levy an amount not to
exceed . 0081% of taxable market value in the area of
operation for redevelopment purposes; and,
WHEREAS, 1991 Laws, Chapter 291, Section 23 states that a
special taxing district ' s payable 1992 levy for
nondebt purposes must not exceed its 1991 levy by more
than 3% .
NOW, THEREFORE, BE IT RESOLVED that the Elk River Housing and
Redevelopment Authority present to the City Council of
the City of Elk River, Minnesota, a special levy not
to exceed the statutory limit of . 0081% of taxable
market value or 103% of the payable 1991 levy,
whichever is less. Upon adoption of the special levy
by the City Council, the said tax rate and levy will
be certified to the County Auditor as required by Law.
Passed and adopted by the Elk River Housing and Redevelopment
Authority this 12th day of August, 1991.
Richard Hinkle, Chairman
ATTEST:
Sandra A. Thackeray, City Jerk
411 •
1992 HRA BUDGET
Cash Balance 12/90 $33,300
1991 Revenues $28,700
1992 Levy $29 ,500
Total Available for 1992 Expenditures $91 ,500
1992 Expenditures
Redevelopment Activities for 1992 $50,000
Reserve for Future Projects $41 , 500
Total 1992 Expenditures $91, 500
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