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Oty of EN Rover <br />Cagy Coa ncH <br />ResoWttoon 6 7- is <br />A Resolution of the City Council of the City of Elk River Authorizing an <br />Interfund Loan for Pinewood Golf Course Startup Funds <br />WHEREAS, the city owns Pinewood Golf Course and has determined that the continued <br />operation of the golf course would serve a public purpose and provide a benefit to its <br />residents. <br />WHEREAS, the city has approved a management agreement with Elk River Country Club <br />for the purpose of operating, managing and maintaining Pinewood Golf Course. <br />WHEREAS, it is deemed in the best interest of the community to approve the interfund <br />loan to provide startup funds for the operations of Pinewood Golf Course. <br />NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Elk <br />River, Minnesota, as follows: Authorize the interfund loan of $20,000 for the startup of <br />Pinewood Golf Course from the GRE Reserve Fund. <br />Passed and adopted this 3`d day of April 2017. <br />Y1^h <br />J n J. Pietz, ayor <br />ATTEST: <br />Tina Allard, City Clerk <br />NATURE <br />