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Of <br />\-Awl� City of Elk River <br />.ver City Council <br />Resolution 20-14 <br />A Resolution of the City Council of the City of Elk River Consenting to the <br />Bank Financing for the Elk River Branch of the Boys & Girls Clubs of 10,000 <br />Lakes <br />WHEREAS, the City of Elk River has and continues to be a strong supporter of the Boys <br />& Girls Club of the North Star - Elk River Branch; and <br />WHEREAS, the City has a Ground Lease Agreement, dated March 16, 1999, with the Elk <br />River Branch of the Boys & Girls Club which requires the city to consent to any mortgage or <br />other security interest in the Boys & Girls Club building; and <br />WHEREAS, the Elk River Branch of the Boys & Girls Club is seeking a note from <br />MidWestOne Bank to be used for capital improvement projects; and <br />NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Elk <br />River, Minnesota, as follows: the city is aware of and supports the Boys & Girls Club board - <br />approved capital plan and consents to this financing which complies with the terms of the <br />Ground Lease dated March 16, 1999. <br />Passed and adopted this 18' day of February 2020. <br />ATTEST: <br />1. <br />( ( <br />Tina Allard, City Clerk <br />]A,JA, n J. ie ayor <br />PD■ERE® 61 <br />NATURE <br />