Laserfiche WebLink
Extract of Minutes of a Meeting of the <br />City Council of the City of Elk River, Minnesota <br />Pursuant to due call and notice thereof, a regular meeting of the City Council of the City of Elk <br />River, Minnesota, was duly held in the City Hall in said City on Monday, August 21, 2017, commencing <br />at 6:00 P.M. <br />The following members were present: Councilmembers Olsen, Ovall, and Wagner <br />and the following were absent: Mayor Dietz and Councilmember Westgaard <br />Member Wagner introduced the following resolution and moved its adoption: <br />Resolution No. 17- 46 <br />Resolution Giving Host Approval and Consenting to the Issuance by the <br />City of Bethel of Charter School Lease Revenue Bonds (Spectrum <br />Building Company) Under Minnesota Statutes, Sections 469.152-469.1655 <br />The motion for the adoption of the foregoing resolution was duly seconded by member <br />Ovall and after full discussion thereof and upon vote being taken thereon, the following <br />voted in favor thereof <br />Councilmembers Olsen, Ovall, and Wagner <br />and the following voted against the same: <br />None <br />whereupon said resolution was declared duly passed and adopted. <br />BE IT RESOLVED, by the City Council (the "Council") of the City of Elk River, <br />Minnesota (the "City") as follows: <br />Section 1. General Recitals. The City is a municipality, statutory city, and political <br />subdivision duly organized and existing under the laws of the State of Minnesota. Under the <br />Constitution and laws of the State of Minnesota, particularly Minnesota Statutes, Sections 469.152- <br />469.1655, as amended (the "Act"), a municipality is authorized to issue revenue bonds to finance or <br />refinance any properties, real or personal, used or useful in connection with a revenue producing <br />enterprise engaged in any business. Under the provisions of the Act, a municipality may enter into <br />an agreement whereby one municipality issues its revenue bonds in behalf of one or more other <br />municipalities. Also, under Minnesota Statutes, Section 471.656, as amended, a municipality may <br />issue obligations to finance or refinance the acquisition or improvement of real property located <br />outside of the corporate boundaries of such municipality if the governing body of the municipality <br />1 <br />