RES 18-70City of Elk River
City Council
Resolution 18- 70
A Resolution of the City Council of the City of Elk River Supporting the Bank
Refinancing for the Boys & Girls Clubs of the North Star — Elk River Branch
WHEREAS, The City of Elk River has and continues to be a strong supporter of the Boys
& Girls Club of the North Star — Elk River Branch; and
WHEREAS, the city has a Ground Lease Agreement dated March 16, 1999, with the Elk
River Branch; and
WHEREAS, the Branch is seeking to refinance existing debt without adding new debt;
and
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Elk
River, Minnesota, as follows: the city is aware of and supports the improved financial
position which would result from said refinancing
Passed and adopted this 17'h day of December 2018.
Bi
J J. Di tz, M -
ATTEST:
ro
Tina Allard, City C erk
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NATURE