07-17-2006 MEMORANDUM - Laserfiche WebLink

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EXTRACT OF MINUTES OF MEETING OF THE CPfY 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: and the following were absent: Member introduced the following resolution and moved its adoption: RESOLUTION #06- 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 BE IT RESOLVED by the City Council (the "Council") of the 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, necessazy and expedient that the Economic Development Authority of the 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 community center/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 of 7:00 a.m. and 8:00 p.m. The polling places for said election will be as follows: Precinct Po11inQ Place lA City Hall 1B United Methodist Church 2A River of Life Church 2B Meadowvale School 3A Ivan Sand School 3B Lion's Park Center 4A Twin Lakes Christian Assemblies of God Church 4B The Church of St. Andrew Address 13065 Orono Parkway 1304 Main Street 21695 Elk Lake Road 12701 Elk Lake Road 1232 School Street 1104 Lion's Pazk Drive 18912 Twin Lakes Road NW 566 4`h Street