RES 09-03 EDA~E~VLUT~VJ. 7 ~J w ~^--
A. R]E~~LUTI~~ ~F THE ELI ~.IVE
EC~~I~I~~C I~EV'EL~PIV~ENT A.UTHI~~T'Y
A R.ESLUT~~~ ESTA~LZ~H~~~ THE 201U R.EFEI~ENI~U1~ TA, LEA A.~
~PP~t~V'EI~ Y V~TEP.S F~I~ A RECR.EAT~~~AL FA.C~LITY T~ ~E LEA.~E~
T~ THE Y~~C~.
~IHEREA~, Qn September 12, 2000, the voters of the City of Elk River approved a
referendum pledging the City's full faith, credit, and resources to
~12,000,OOD of bonds for a recreational facility to be leased to the
YMCA; and
wHER.EA.S, the City has received a Landfill Abatement Legacy Grant from Sherburne
County fax certain qualifying recycled materials and these Grant funds
have been applied to reduce the debt service tax levy on the ~ 2,000,000
of bonds,
~C~~1, THE~.EF~7E, ~E IT ~E~~L~EI~ by the Economic Development Aud~ority in
and for the City of Ells River, Minnesota, that it hereby levies a tax of X252,953 for taxes
payable in 2010 fox the purposes of funding the debt service on ~ 12,000,000 of bonds as
approved bar voters to build a recreational facility to be leased to the YMCA,
Passed and adopted by the Ells River Economic Development Authority this lOt~' day of
August, 2009,
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Pat Dwyer, President
ATTES~~
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~rCatherine Mehelich Executive Director
S. ~ Council Tim ~ 20Q9 ~ EDALEVY 10ymca, doc