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• RESOLUTION 10-04 <br />A RESOLUTION OF THE ELK RIVER <br />ECONOMIC DEVELOPMENT AUTHORITY <br />AMENDED RESOLUTION ESTABLISHING THE 2011 REFERENDUM TAX <br />LEVY AS APPROVED BY VOTERS FOR A RECREATIONAL FACILITY TO BE <br />LEASED TO THE YMCA <br />WHEREAS, C-n September 12, 2006, the voters of the City of Elk River approved a <br />referendum pledging the City's full faith, credit, and resources to <br />$12,000,000 of bonds for a recreational facilityto be leased to the <br />YMCA; and <br />WHEREAS, the City has received a Landfill Abatement LegacyGrant from Sherburne <br />Countyfor certain qualifying recycled materials and these Grant funds <br />have been applied to reduce the debt service tax levy on the $12,000,000 <br />of bonds. <br />NOW, THEREFORE, BE IT RESOLVED by the Economic Development Authority in <br />and for the City of Elk River, Minnesota, that it hereby levies a tax of $256,956 for taxes <br />payable in 2011 for the purposes of funding the debt service on $12,000,000 of bonds as <br />• approved byvoters to build a recreational facilityto be leased to the YMCA. <br />Passed and adopted by the Elk River Economic Development Authority this 9~' day of <br />August, 2010. <br />Ron Touchette, EDA President <br />ATTEST: <br />,~ Ci~ <br />Catherine Mehehch, Executive Director <br />• <br />