RES 23-63City of Elk River
City Council
Resolution 23-63
A Resolution of the City Council of the City of Elk River Authorizing an
Interfund Loan for Zamboni Purchase
WHEREAS, the city has determined the need for replacing the Zamboni at the FTCenter;
and,
WHEREAS, the city is requesting an interfund loan in the amount of $200,000 from the
Capital Reserve Fund to the FTCenter; and
WHEREAS, it is deemed in the best interest of the community to approve the interfund
loan to finance the purchase of the Zamboni.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Elk
River, Minnesota, as follows: authorizes the interfund loan for the Zamboni purchase,
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subject to the following requirements:
1 1. The principal amount of the loan will be $200,000.
2. There will be interest charged on the loan at an annual rate of 4%.
3. The loan balance will be repaid in annual installments of no less than $20,000.
4. The first payment will be made in 2024.
5. There will be no prepayment penalty.
Passed and adopted this 18" day of December 2023.
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ATTEST:
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Tina Allard, City Clerk
NAtURE
City of Elk River
City Council
Resolution 23-62
A Resolution of the City Council of the City of Elk River Adopting the 2024
Compensation Plan for Non -Organized Employees
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Elk
River, Minnesota, as follows: The attached Compensation Plan was approved and adopted
effective December 18, 2023, and amended on January 16, 2024, and May 20, 2024.
Passed and adopted this 20' day of May 2024.
ATTEST:
Tina Allard, City Clerk
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