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RESOLUTION 01- <br /> <br />A RESOLUTION FOR THE CITY OF ELK RIVER <br /> <br />A RESOLUTION IN SUPPORT OF THE LEGISLATION REDUCING THE CLASS RATE <br />ON PERSONAL PROPERTY FOR GENERATION EQUIPMENT AND REPLACING <br /> THE SAME WITH "TRUST FUNDS" <br /> <br />WHEREAS the City of Elk River is in Sherburne County; and <br /> <br />WHEREAS the County of Sherburne has a significant portion of it's tax base consisting <br /> of personal property taxes; and <br /> <br />WHEREAS <br /> <br />the elimination of the same without a <br />elimination of the same over a ten year <br />consequences to the County; and <br /> <br />replacement income stream or <br />period would have dire adverse <br /> <br />WHEREAS <br /> <br />the Cities of Elk River, St. Cloud and Becker also have personal property <br />taxes as part of their income stream and elimination of the same would cause <br />adverse consequences to the citizens of Sherburne County; and <br /> <br />NOW, THEREFORE, BE IT RESOLVED by the City Council for the City of Elk <br />River, Minnesota that we support the concept of the reduction of the class rate of personal <br />property taxes for generation equipment on the condition that a trust fund is created which <br />replaces the income stream and continues to maintain the estimated market value on the tax <br />rolls for future bonding capabilities. We would respectfully request that as our area <br />representative/senator, that you vote in favor of the same and attest to the same as it comes <br />before the legislature. <br /> <br />Passed and adopted this ~ day of <br /> <br />Stephanie Kflinzing, Mayor <br /> <br />ATTEST: <br /> <br />Sandra A. Peine, City Clerk <br /> <br />Dated: <br /> <br /> <br />