Laserfiche WebLink
City of <br /> River <br /> Resolution 14- 22 <br /> A Resolution of the City o lk River Consenting to the Bank Refinancing for <br /> the Elk River Branch of the Boys & it Clubs of 10,000 Lakes <br /> WHEREAS, "I'he City of FIlk River has and continues to be a strong supporter of the 1:,"Ik <br /> River Boys & Girls Club; and <br /> WHEREAS, The City has a Ground:Lease Agreenient, dated March 16, 1999,with the Elk <br /> River Branch of the Boys & Girls Club which requires the city to consent to any mortgage or <br /> other security, interest in the Bo)�s & Girls Club, building-. and <br /> WHEREAS, the F"lk River Branch of the Boys & Girls Club is seeking to refinance <br /> existing debt without adding new debt on the bufldingl- and <br /> NOW, THEREFORE, BE IT RESOLVED by the City Council of the City, of Elk <br /> River, Minnesota, as follows: the city is aware of and supports then"nproved financial <br /> position which would result from said refinancing and consents to this refinancing and any <br /> mortgage or other security interest in the Boys & Girls Club building, provided such <br /> mortgage or security interest complies with the terms of the (.3round Lease dated March 16, <br /> 1999. <br /> Passed and adopted this 19"' day of May 2014. <br /> Y <br /> hn y)Ietz, I or If,ina Allard, City Clerk <br /> !NATURE <br /> =4XVW 11 <br />