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released from escrow once the property tax exemption is received from the county. The fee agreement <br />does not waive any future fees the school might incur from the city. <br />The lease revenue bonds issued would be no obligation of the City of Elk River. <br />ATTACHMENTS <br />Resolution Giving Host Approval to the Issuance of Charter School Lease Revenue Bonds <br />under Minnesota Statutes, Sections 469.152 Through 469.1651 (Spectrum High School <br />Project) <br />Payment in Lieu of Fees Agreement <br />Action Motion by Second by Vote <br />Follow Up <br />N:\PubGc Bodies\City Council\Council RCA\Agenda Packet\07-1G-2012\I Iostappro~-alreyuest071G.docs <br />