6.6. SR 11-15-2004
Item 6.6.
MEMORANDUM
TO:
Mayor and City Council
FROM:
Pat Klaers, City Administrate
November 15, 2~04 ~
Consider Payment to the School District for the Little Theatre
DATE:
SUBJECT:
In September 2001 tbe Elk River City Council agreed to pay the School District $563,000 to
preserve tbe Litde Theatre. This payment was to be made over five years (equal installments
witb no interest). On April 19, 2004, tbe City Council adopted a resolution, which reserved
some of the 2003 general fund balance for this 2004 payment to tbe School District.
Recommendation
Consistent witb Resolution 2004-22, it is recommended tbat tbe City Council make tbe 2004
payment of $112,600 to tbe School District for tbe Litde Theatre from tbe money reserved
out of tbe 2003 general fund balance.
s: \ Counci1\Pat\2004\I"ittleTheatrcPayment.doc