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<br />Item 6.6. <br /> <br /> <br />MEMORANDUM <br /> <br />TO: <br /> <br />Mayor and City Council <br /> <br />FROM: <br /> <br />Pat Klaers, City Administrate <br />November 15, 2~04 ~ <br /> <br />Consider Payment to the School District for the Little Theatre <br /> <br />DATE: <br /> <br />SUBJECT: <br /> <br />In September 2001 tbe Elk River City Council agreed to pay the School District $563,000 to <br />preserve tbe Litde Theatre. This payment was to be made over five years (equal installments <br />witb no interest). On April 19, 2004, tbe City Council adopted a resolution, which reserved <br />some of the 2003 general fund balance for this 2004 payment to tbe School District. <br /> <br />Recommendation <br />Consistent witb Resolution 2004-22, it is recommended tbat tbe City Council make tbe 2004 <br />payment of $112,600 to tbe School District for tbe Litde Theatre from tbe money reserved <br />out of tbe 2003 general fund balance. <br /> <br />s: \ Counci1\Pat\2004\I"ittleTheatrcPayment.doc <br />