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City of <br /> Elk <br /> River <br /> Resolution 21- <br /> A Resolution of the City of Elk River Economic Development Authority <br /> Establishing the Referendum Tax Levy as Approved by Voters for a <br /> Recreational Facility to be leased to the YMCA <br /> WHEREAS, on September 12, 2006, the voters of the City of Elk River approved a <br /> referendum pledging the City's full faith, credit, and resources to $12,000,000 of bonds for a <br /> recreational facility to be leased to the YMCA; and <br /> WHEREAS, in 2013, the EDA issued$9,685,000 cross-over refunding bonds to redeem <br /> the Series 2007 Bonds on Februarys 1, 2017. <br /> NOW, THEREFORE, BE IT RESOLVED by the Economic Development AuthorityT <br /> of the City of Elk River,Minnesota, as follows: that it hereby levies a tax of$516,556 for <br /> taxes payable in 2022 for the purposes of funding the debt service on $9,685,000 of bonds as <br /> approved by voters to build a recreational facility to be leased to the YMCA. <br /> Passed and adopted this 20"' day of September,2021. <br /> Dan Tveite,President <br /> ATTEST: <br /> Brent O'Neil, Executive Director <br /> p 0 w I R I U 0y <br /> NREI <br /> ATU <br />