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• CITY QUESTION BALLOT <br />SPECIAL ELECTION <br />CITY OF ELK RIVER <br />SHERBURNE COUNTY <br />MINNESOTA <br />September 12, 2006 <br />INSTRUCTION TO VOTERS: If you wish to vote in favor of the following proposition, <br />completely fill in the oval U next to the word "YES". If you wish to vote against the <br />following proposition, completely fill in the oval ( ) next to the word "NO". <br />CITY QUESTION NO. 1: <br />ACQUISITION AND BETTERMENT OF <br />RECREATIONAL FACILITY LEASED TO YMCA <br />"Shall the City of Elk River, Minnesota, be authorized to pledge its <br />full faith, credit and resources to bonds to be issued by the <br />Economic Development Authority of the City of Elk River in an <br />• amount not to exceed $12,000,000 to defray the expense of the <br />acquisition and betterment of a recreational facility owned by the <br />Authority and leased to the YMCA? <br />• <br />The maximum amount of increased levy as a percentage of market value is .052%. <br />The maximum amount that would be raised by the new referendum tax rate in the first <br />year if it were to be levied is $902,982. <br />NOTICE: BY VOTING "YES" ON THIS BALLOT QUESTION, <br />YOU ARE VOTING FOR A PROPERTY TAX INCREASE. The <br />Economic Development Authority of the City of Elk River anticipates <br />entering into a lease with The Young Men's Christian Association of <br />Metropolitan Minneapolis (the "YMCA") pursuant to which the YMCA <br />will pay one-third of the debt service of the bonds to be issued by the <br />Economic Development Authority of the City of Elk River. <br />YES ( ) <br />NO ( ) <br />4 06-91 <br />