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Housing & Redevelopment Authority Page 3 <br />May 16~ 2005 <br />----------------------------- <br />$400,000 TO BE REPAID IN FULL AT 1% INTEREST AT THE END OF 30 <br />YEARS. MOTION CARRIED 5-0. <br />Adjournment <br />There being no other business, MOVED BY COMMISSIONER TOTH AND <br />SECONDED BY COMMISSIONER MOTIN TO ADJOURN THE MEETING. <br />MOTION CARRIED 5-0. <br />The meeting of the Elk River Housing and Redevelopment Authority adjourned at 5:55 p.m. <br />Tina Allard <br />Recording Secretary <br />