01-020 RESRESOLUTION 01- 20
A RESOLUTION FOR THE CITY OF ELK RIVER
A RESOLUTION IN SUPPORT OF THE LEGISLATION REDUCING THE CLASS RATE
ON PERSONAL PROPERTY FOR GENERATION EQUIPMENT AND REPLACING
THE SAME WITH "TRUST FUNDS"
WHEREAS the City of Elk River is in Sherburne County; and
WHEREAS the County of Sherbume has a significant portion of it's tax base consisting
of personal property taxes; and
WHEREAS
the elimination of the same without a replacement income stream or
elimination of the same over a ten year period would have dire adverse
consequences to the County; and
WHEREAS
the Cities of Elk River, St. Cloud and Becker also have personal property
taxes as part of their income stream and elimination of the same would cause
adverse consequences to the citizens of Sherbume County; and
NOW, THEREFORE, BE IT RESOLVED by the City Council for the City of Elk
River, Minnesota that we support the concept of the reduction of the class rate of personal
property taxes for generation equipment on the condition that a trust fund is created which
replaces the income stream and continues to maintain the estimated market value on the tax
rolls for future bonding capabilities. We would respectfully request that as our area
representative/senator, that you vote in favor of the same and attest to the same as it comes
before the legislature.
Passed and adopted tbJs 9thday of April
Step~fie Iadinzing, Mayor
ATTEST:
D te : %!ot