RES 18-02Resolution 18- 0z
A Resolution of the City of Elk River Economic Development Authority
Establishing the 2019 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, in 2013, the EDA issued $9,685,000 cross-over refunding bonds to redeem
the Series 2007 Bonds on February 1, 2017.
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 $511,166 for
taxes payable in 2019 for the purposes of funding the debt service on $9,685,000 of bonds as
approved by voters to build a recreational facility to be leased to the YMCA.
Passed and adopted this 20`s day of August, 2018
A
A a Othoudt, Executive Director
Dan Tveite, President
IRtEREI Ir
NATURE