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City of <br /> Elk <br /> River <br /> Resolution 16- <br /> A Resolution of the City of Elk River Consenting to a Commercial Real <br /> Estate Loan by the Boys & Girls Club of Elk River <br /> WHEREAS, the City of Elk River has and continues to be a strong supporter of the Boys <br /> & Girls Club of Elk River; and <br /> WHEREAS, the city has a Ground Lease Agreement dated March 16, 1999,with the club <br /> which requires the city to consent to any mortgage or other security interest pertaining to the <br /> Boys & Girls Club building; and <br /> WHEREAS, the club requests the city's consent to supporting the club in obtaining a <br /> Commercial Real Estate Loan; and <br /> NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Elk <br /> River,Minnesota, as follows: the city is aware of and supports the acquisition of a <br /> Commercial Real Estate Loan by the Boys & Girls Club of Elk River of$60,000 to use as <br /> working capital <br /> Passed and adopted this 181h day of April 2016. <br /> John J. Dietz,Mayor <br /> ATTEST: <br /> Tina Allard, City NATUREJ <br />