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ver <br />Resolution 19-04 <br />A Resolution of the City of Elk River Economic Development Authority, <br />Establishing the Tax Levy for the Elk River Economic Development <br />Authority for the City of Elk River, Minnesota <br />WHEREAS, Minnesota Statutes §469.107, subd. 1, authorizes the Economic <br />Development Authority to levy an amount not to exceed .01813 percent of the estimated <br />market value within the city to be used for economic development purposes; and, <br />WHEREAS, the Elk River Economic Development Authority will adopt and approve its <br />budget and will forward such to the City of Elk River pursuant to Minnesota Statutes <br />5469.100, subd. 2. <br />NOW, THEREFORE, BE IT RESOLVED by the Economic Development Authority <br />in and for the City of Elk River, Minnesota, that it hereby requests the City Council of the <br />City of Elk River to levy a tax in the amount of $334,450 for the year 2020 for the benefit of <br />the Authority to be used for Economic Development Authority purposes as provided by the <br />statute. <br />Passed and adopted this 19`" day of August, 2019. <br />A <br />r <br />manda Othoudt, EDA Executive Direc or <br />Dan Tveite, EDA President <br />r I r E I E I I I <br />NATURE <br />