EDA RES 26-09of
WV10
City of Elk River
Economic Development Authority
Resolution 26-09
A Resolution of the City of Elk River Economic Development Authority Establishing the
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,
'innesota, as follows: that it hereby levies a tax of $519,680 for taxes payable in 2027 for the purposes
. 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 17' day of August, 2026.
-esident
ATTEST)
Brent O'Neil, EDA Executive Director