RES 16-04 fPf ...„....
River
Resolution 16-04
A Resolution of the City of Elk River Economic Development Authority
Establishing the 2016 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 had received a Landfill Abatement Legacy Grant from Sherburne
County for certain qualifying recycled materials and these grant funds were applied to reduce
the debt service tax levy on the$12,000,000 of bonds over the past nine years.
NOW, THEREFORE, BE IT RESOLVED by the Economic Development Authority
of the City of Elk River,Minnesota,as follows: that it hereby levies a tax of$511,447 for
taxes payable in 2017 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 this 15th day of August,2016.
Dan Tveite,President
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Amanda Othoudt, Executive Director
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