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• RESOLUTION 91 - 1 <br /> A RESOLUTION OF THE ELK RIVER <br /> ECONOMIC DEVELOPMENT AUTHORITY <br /> A RESOLUTION FOR THE ELK RIVER ECONOMIC DEVELOPMENT <br /> AUTHORITY IN AND FOR THE CITY OF ELK RIVER, MINNESOTA <br /> WHEREAS, Minnesota Statute Section 469 . 107 , Subdivision 1, <br /> authorizes the Economic Development Authority to levy <br /> to fund the Authority' s anticipated budget needs for <br /> the next fiscal year; and, <br /> WHEREAS, the 1991 Laws, Chapter 291 , Section 23, states that a <br /> special taxing district 's payable 1992 levy for <br /> nondebt purposes must not exceed its payable 1991 levy <br /> by more than 3%; and, <br /> WHEREAS, the Elk River Economic Development Authority has <br /> adopted its budget and will forward such to the City <br /> of Elk River pursuant to Minnesota Statutes, Section <br /> 469 . 100, Subdivision 2. <br /> NOW, THEREFORE, BE IT RESOLVED by the Economic Development <br /> Authority in and for the City of Elk River, Minnesota, <br /> that it hereby requests the City Council of the City <br /> of Elk River to levy a tax in the amount of the lesser <br /> of . 01813% of the taxable market value in the City for <br /> the year 1991 or 103% of the Elk River Economic <br /> Development Authority levy for taxes payable in 1991 <br /> for the benefit of the Authority to be used for <br /> Economic Development Authority purposes as provided in <br /> the Statute. <br /> Passed and adopted by the Elk River Economic Development <br /> Authority this 12th day of August, 1991 . <br /> 4/I <br /> ArV � cgoll, 1T sident <br /> ATTEST: <br /> c-;?/„4.? <br /> Sandra A. Thackeray, City lerk <br />