07-059 RES
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RESOLUTION 07-~
A RESOLUTION OF THE CITY OF ELK RIVER
A RESOLUTION OF APPLICATION
WHEREAS, that the City of Elk River is hereby applying to the Minnesota Public
Facilities Authority for a loan to be used for the reimbursement of capital cost for the
described project: 193rd Avenue;
WHEREAS, that the City of Elk River estimates that it will require a loan in the maximum
principal amount of $2,431,500 for the project for the above stated purposes;
WHEREAS, that the City of Elk River has the legal authority to apply for the loan and the
capacity to ensure proper construction of the project and repayment of the loan;
NOW, THEREFORE, BE IT RESOLVED that the City of Elk River apply to the
Minnesota Public Facilities Authority for a loan for the 193rd Avenue project.
Passed and adopted this 18th day of June 2007.
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Tina Allard, City Clerk
s: \Resolutions \2007 Resolutions \ Unapproved\ 193avenuebondresolution.doc