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<br />. <br /> <br />. <br /> <br />. <br /> <br />CITY OF ELK RIVER <br />CITY COUNCIL <br /> <br />RESOLUTION NO. 94- <br /> <br />A RESOLUTION DIRECTING THAT TAX INCREMENT FINANCING FUNDS <br />FROM TAX INCREMENT FINANCING DISTRICT NO. 4 BE APPLIED TO <br />THE COSTS OF THE GARY STREET WATER TOWER <br /> <br />WHEREAS, the City Council of the.City of Elk River, on <br />November 30, 1987, adopted Tax Increment Financing <br />Plan for Tax Increment Financing District No.4; and <br /> <br />WHEREAS, the City has received certain tax increment funds from <br />Tax Increment Financing District No.4; and <br /> <br />WHEREAS, the Tax Increment Financing Plan for Tax Increment <br />Financing District No. 4 indicated that tax increment <br />generated by the Tax Increment Financing District <br />would be used to contribute to the cost of <br />improvements to the City'S water supply system and <br />sanitary sewer system, including the cost of <br />construction of an elevated water tower; and <br /> <br />WHEREAS, Elk River Municipal Utilities will be constructing an <br />elevated water tower on Gary Street during 1995; <br /> <br />NOW, THEREFORE, BE IT RESOLVED by the City Council of the City <br />of Elk River, as follows: <br /> <br />1. All tax increment received from Tax Increment <br />Financing District No. 4 is hereby designated to <br />be used to contribute to the cost of constructing <br />the Gary Street elevated water tower. <br /> <br />2. City staff is directed to make arrangements with <br />Elk River Municipal Utilities to make these funds <br />available for that purpose. <br /> <br />Passed and adopted by the City Council of the City of Elk River <br />this day of October, 1994. <br /> <br />Henry A. Duitsman, Mayor <br /> <br />ATTEST: <br /> <br />d~.b::/ <br />/p~~ <br />~ <br /> <br />Sandra A. Thackeray, City Clerk <br />