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RESOLUTION 11 - 01 <br />A RESOLUTION OF THE ELK RIVER <br />ECONOMIC DEVELOPMENT AUTHORITY <br />A RESOLUTION ESTABLISHING THE TAX LEVY FOR THE ELK RIVER <br />ECONOMIC DEVELOPMENT AUTHORITY IN AND FOR THE CITY OF <br />ELK RIVER, MINNESOTA <br />WHEREAS, Minnesota Statutes, Section 469.107, Subdivision 1, authorizes the <br />Economic Development Authority to levy an amount not to exceed <br />.01813 percent of the taxable market value in the city to fund the <br />Authority's anticipated budget needs for the fiscal year 2012; and, <br />WHEREAS, the Elk River Economic Development Authoritywill adopt and approve <br />its budget and will forward such to the City of Elk River pursuant to <br />Minnesota Statutes, Section 469.100, Subdivision 2. <br />NOW, THEREFORE, BE IT RESOLVED bythe Economic Development Authority <br />in and for the City of Elk River, Minnesota, that it hereby requests the City Council of the <br />City of Elk River to levy a tax in the amount of .01813 percent of the taxable market value in <br />the city for the year 2012 for the benefit of the Authority to be used for Economic <br />Development Authority purposes as provided by the statute. <br />Passed and adopted bythe Elk River Economic Development Authoritythis 8~' day of <br />August, 2011. <br />Ron Touchette, EDA President <br />ATTEST: <br />Annie Deckert, EDA Executive Director <br />N:\Depaztments\Comm„n;tyDevelopment\Economic Development\Resolutions\RESOLUTIONS\EDA levy <br />Resolutions\EDALEV2011 ResoLdoc <br />