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• RESOLUTION 08 - 07 <br /> A RESOLUTION OF THE ELK RIVER <br /> ECONOMIC DEVELOPMENT AUTHORITY <br /> A RESOLUTION ESTABLISHING THE 2009 REFERENDUM TAX LEVY AS <br /> APPROVED BY VOTERS FOR A RECREATIONAL FACILITY TO BE LEASED <br /> TO THE YMCA <br /> WHEREAS, On 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 facility to be leased to the <br /> YMCA;and <br /> WHEREAS, the City has received a Landfill Abatement Legacy Grant from Sherburne <br /> County for 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$235,268 for taxes <br /> payable in 2009 for the purposes of funding the debt service on$12,000,000 of bonds as <br /> • approved by voters to build a recreational facility to be leased to the YMCA. <br /> Passed and adopted by the Elk River Economic Development Authority this 11th day of <br /> August,2008. <br /> (0)181--)41‘..—) <br /> Pat Dwyer,President <br /> ATTEST: <br /> rWet /07 <br /> Catherine Mehelich,Executive Director <br /> • <br /> r <br /> C:\Documents and Settings\jjohnson\Local Settings\Temporary Internet Files\OLK49\EDALEVO9ymca.doc <br />