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<br />Modification to the Five-Year Capital Improvement Plan for the <br />City of Elk River, Minnesota <br />Relating to the Construction of a New Library and Expansion of a <br />Public Works Facility <br />2006 through 20 1 0 <br /> <br />I. INTRODUCTION <br /> <br />In 2003, the Minnesota State Legislature adopted a statute that generally <br />exempts municipal bonds issued under a capital imprO\Tement program from <br />the referendulTI requirements usually required for city halls, public \\Torks, <br />and public safety facilities. The 2005 Legislature added towns to the <br />meaning of a lTIunicipality and to\\'11 halls and libraries to the meaning of a <br />capital improvement. <br /> <br />Ehlers & Associates, Inc. <br /> <br />Page 3 <br />