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RES 06-091 . . . EXTRACT OF MINUTES OF MEETING OF THE CITY COUNCIL OF THE CITY OF ELK RIVER, MINNESOTA HELD: July 17,2006 Pursuant to due call and notice thereof, a regular meeting of the City Council of the City of Elk River, Minnesota, was duly called and held at the City Hall on July 17,2006, at 6:30 o'clock p.m. The following members were present: Mayor Klinzing, Councilmembers Dietz, Gumphrey, Farber, and Motin and the following were absent: None Member Gumphrey introduced the following resolution and moved its adoption: RESOLUTION #06-91 RESOLUTION CALLING FOR AN ELECTION ON PLEDGING THE CITY'S FULL FAITH AND CREDIT AND RESOURCES TO $12,000,000 OF BONDS TO BE ISSUED BY THE ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY OF ELK RIVER GENERAL OBLIGATION BONDS BE IT RESOLVED by the City Council (the "Council") ofthe City of Elk River, Minnesota (the "City"), as follows: 1. Proiect. This Council has investigated the facts and does hereby find, determine and declare that it is proper, necessary and expedient that the Economic Development Authority ofthe City of Elk River (the "EDA") issue bonds in an amount not to exceed $12,000,000 secured by the pledge of the City's full faith, credit and resources to defray the expense of the acquisition and betterment of a recreational facility to be owned by the EDA and leased to the YMCA of Metropolitan Minneapolis ("YMCA"). 2. Election. The proposition of pledging the City's full faith, credit and resources to the bonds of the EDA shall be submitted to the qualified electors of the City at a special election to be held on September 12,2006. Said election shall be held between the hours of7:00 a.m. and 8:00 p.m. The polling places for said election will be as follows: Precinct Polling: Place Address 1A 1B 2A 2B 3A 3B 4A City Hall United Methodist Church River of Life Church Meadowvale School Ivan Sand School Lion's Park Center Twin Lakes Christian Assemblies of God Church 13065 Orono Parkway 1304 Main Street 21695 Elk Lake Road 12701 Elk Lake Road 1232 School Street 1104 Lion's Park Drive 18912 Twin Lakes Road NW . . . 4B 566 4th Street The Church of St. Andrew 3. Notice and Ballot. The Clerk is hereby authorized and directed to post and publish according to law a Notice of Special Election and Ballot, and to prepare ballots for the question for use at said election, which notice and ballot shall be in substantially the following forms: 2 06-91 . . . CITY OF ELK RIVER, MINNESOTA NOTICE OF SPECIAL ELECTION Tuesday, September 12, 2006 NOTICE IS HEREBY GIVEN that a special election will be held in and for the City of Elk River, Sherburne County, Minnesota, on September 12,2006 between the hours of7:00 a.m. and 8:00 p.m., at which time the following question will be submitted: "Shall the City of Elk River, Minnesota, be authorized to pledge its full faith, credit and resources to bonds to be issued by the Economic Development Authority of the City of Elk River in an amount not to exceed $12,000,000 to defray the expense of the acquisition and betterment of a recreational facility owned by the Authority and leased to the YMCA? The polling places for said election will be the following locations within the City, at which places all of the qualified electors of the City residing within such precinct may cast their ballots: Precinct Polling: Place Address lA IB 2A 2B 3A 3B 4A City Hall United Methodist Church River of Life Church Meadowvale School Ivan Sand School Lion's Park Center Twin Lakes Christian Assemblies of God Church The Church of St. Andrew 13065 Orono Parkway 1304 Main Street 21695 Elk Lake Road 12701 Elk Lake Road 1232 School Street 1104 Lion's Park Drive 18912 Twin Lakes Road NW 566 4th Street 4B Dated: July 17,2006. BY ORDER OF THE CITY COUNCIL Isl Joan Schmidt City Clerk 3 06-91 . . . CITY QUESTION BALLOT SPECIAL ELECTION CITY OF ELK RIVER SHERBURNE COUNTY MINNESOTA September 12, 2006 INSTRUCTION TO VOTERS: If you wish to vote in favor of the following proposition, completely fill in the oval ~ next to the word "YES". If you wish to vote against the following proposition, completely fill in the oval ( ) next to the word "NO". CITY QUESTION NO.1: ACQUISITION AND BETTERMENT OF RECREATIONAL FACILITY LEASED TO YMCA "Shall the City of Elk River, Minnesota, be authorized to pledge its full faith, credit and resources to bonds to be issued by the Economic Development Authority of the City of Elk River in an amount not to exceed $12,000,000 to defray the expense of the acquisition and betterment of a recreational facility owned by the Authority and leased to the YMCA? The maximum amount of increased levy as a percentage of market value is .052%. The maximum amount that would be raised by the new referendum tax rate in the first year if it were to be levied is $902,982. NOTICE: BY VOTING "YES" ON THIS BALLOT QUESTION, YOU ARE VOTING FOR A PROPERTY TAX INCREASE. The Economic Development Authority of the City of Elk River anticipates entering into a lease with The Young Men's Christian Association of Metropolitan Minneapolis (the "YMCA") pursuant to which the YMCA will pay one-third of the debt service of the bonds to be issued by the Economic Development Authority of the City of Elk River. YES (-) (-) NO 4 06-91 . . . 4. Election Judges. Electionjudges will be appointed at least twenty-five (25) days prior to said election. 5. Manner: Canvass. Said election shall be held and conducted in accordance with the statutes of the State of Minnesota applicable, and the Council shall meet as required by law for the purpose of canvassing said election and declaring the results thereof. The motion for the adoption of the foregoing resolution was duly seconded by member Dietz and, after full discussion thereof and upon a vote being taken thereon, the following voted in favor thereof: Mayor Klinzing, Councilmembers Dietz, Gumphrey, and Farber and the following voted against the same: Councilmember Motin. Whereupon the resolution was declared duly passed and adopted. Stephanie Klinzing, Mayor ATTEST: ~ 5 06-91 . . . STATE OF MINNESOTA COUNTY OF SHERBURNE CITY OF ELK RIVER I, the undersigned, being the duly qualified and acting Clerk of the City of Elk River, Minnesota, DO HEREBY CERTIFY that I have carefully compared the attached and foregoing extract of minutes with the original minutes of a meeting of the City Council duly called and held on the date therein indicated, which are on file and of record in my office, and the same is a full, true and correct transcript therefrom insofar as the same relate to a special election on the pledge of the City's full faith, credit and resources to bonds to be issued by the Economic Development Authority of the City of Elk River. WITNESS my hand as such Clerk on July 17,2006. , ~ Ci~C~ 6 06-91 . [City Letterhead] Sherburne County Auditor [address] Dear County Auditor: Pursuant to Minnesota Statutes, Section 205.16, Subdivision 4, this letter is to formally advise you that the City of Elk River, Minnesota, will be holding a special city election on September 12,2006, between the hours of7:00 a.m. and 8:00 p.m. at the following polling places: Precinct Polling Place Address lA City Hall 13065 Orono Parkway IB United Methodist Church 1304 Main Street 2A River of Life Church 21695 Elk Lake Road 2B Meadowvale School 12701 Elk Lake Road 3A Ivan Sand School 1232 School Street . 3B Lion's Park Center 1104 Lion's Park Drive 4A Twin Lakes Christian 18912 Twin Lakes Road NW Assemblies of God Church 4B The Church of St. Andrew 566 4th Street The following question will be submitted to the voters at that election: "Shall the City of Elk River, Minnesota, be authorized to pledge its full faith, credit and resources to bonds to be issued by the Economic Development Authority of the City of Elk River in an amount not to exceed $12,000,000 to defray the expense of the acquisition and betterment of a recreational facility owned by the Authority and leased to the YMCA? Please see attachment for the final ballot layout. Very truly yours, CITY OF ELK RIVER, MINNESOTA By Its ~J,~ .