86-049 RES
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.
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RESOLUTION 86- 49
A RESOLUTION APPROVING Dougherty DRwki TIS
FINANCIER OF THE $250,000 PUBLIC WORKS FACILITY
AS
WHEREAS, the City of Elk River wishes to construct a public works
facility; and,
WHEREAS, the public works facility construction costs will not
exceed $250,000; and,
WHEREAS, general fund operating monies will be used to finance
the lease payments; and,
WHEREAS, on termination of the lease payments, the City will be
owner of the public works facility; and,
NOW, THEREFORE, BE IT RESOLVED that the City of Elk River proceed
with the financing arrangements for the public works
facility through DOllehprty DRwkins on a
lease purchase agreement contingent upon review by our
Legal and Bond Council.
Passed and adopted this 21st day of July, 1986 by the City
Council of the City of Elk River.
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(~;;~ ~c. ;)~~. v.
Richard Hinkle, Mayor
ATTEST:
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Patrick D. Klaers, City Administrator