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<br />riJandoxJ r;t {!crt S /, <br />1!r7!Otp <br /> <br />EXTRACT OF MINUTES OF MEETING OF <br />THE CITY COUNCIL OF THE <br />CITY OF ELK RIVER, MINNESOTA <br /> <br />HELD: July 17, 2006 <br /> <br />Pursuant to due call and notice thereof, a regular meeting of the City Council of the City <br />of Elk River, Minnesota, was duly called and held at the City Hall on July 17,2006, at 6:30 <br />o'clock p.m. <br /> <br />The following members were present: <br /> <br />and the following were absent: <br /> <br />Member <br /> <br />introduced the following resolution and moved its adoption: <br /> <br />RESOLUTION #06- <br /> <br />RESOLUTION CALLING FOR AN ELECTION ON PLEDGING THE CITY'S <br />FULL FAITH AND CREDIT AND RESOURCES TO $12,000,000 OF BONDS TO BE <br />ISSUED BY THE ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY OF ELK <br />RIVER GENERAL OBLIGATION BONDS <br /> <br />BE IT RESOLVED by the City Council (the "Council") of the City of Elk River, <br />Minnesota (the "City"), as follows: <br /> <br />1. Proiect. This Council has investigated the facts and does hereby find, determine <br />and declare that it is proper, necessary and expedient that the Economic Development Authority <br />of the City of Elk River (the "EDA") issue bonds in an amount not to exceed $12,000,000 <br />secured by the pledge of the City's full faith, credit and resources to defray the expense of the <br />acquisition and betterment of a community recreational facility to be owned by the EDA and <br />leased to the YMCA of Metropolitan Minneapolis ("YMCA"). <br /> <br />2. Election. The proposition of pledging the City's full faith, credit and resources to <br />the bonds of the EDA shall be submitted to the qualified electors of the City at a special election <br />to be held on September 12,2006. Said election shall be held between the hours of7:00 a.m. <br />and 8:00 p.m. The polling places for said election will be as follows: <br /> <br />Precinct <br /> <br />lA <br />IB <br />2A <br />2B <br />3A <br />3B <br />4A <br /> <br />4B <br /> <br />Polling Place <br /> <br />City Hall <br />United Methodist Church <br />River of Life Church <br />Meadowvale School <br />Ivan Sand School <br />Lion's Park Center <br />Twin Lakes Christian <br />Assemblies of God Church <br />The Church of St. Andrew <br /> <br />Address <br /> <br />13065 Orono Parkway <br />13 04 Main Street <br />21695 Elk Lake Road <br />12701 Elk Lake Road <br />1232 School Street <br />1104 Lion's Park Drive <br />18912 Twin Lakes Road NW <br /> <br />566 4th Street <br />