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. . . -~ ~ The City Council for the City of Elk River, Minnesota Resolution No. 87- ~ CITY COUNCIL RESOLUTION AUTHORIZING A LEVY INCREASE IN THE AMOUNT OF .75 MILL FOR THE YEAR 1988 FOR THE BENEFIT OF THE CITY OF ELK RIVER ECONOMIC DEVELOPMENT AUTHORITY WHEREAS, the City Council of the City of Elk River has received a request from the Economic Development Authority for the City of Elk River to levy a tax for the benefit of the Authority in the amount of .75 mill, times the assessed valuation of taxable property in the City for the year 1988; and WHEREAS, the city Council passed Resolution No. 87-64 on October 7, 1987, acknowledging the request of the Economic Development Authority and proposing that the requested tax be levied; and WHEREAS, Resolution No. 87-64, together with a notice of public hearing on Resolution No. 87-64, has been published for two successive weeks in the official newspaper of the City of Elk River; and WHEREAS, the City of Elk River has held a public hearing on Resolution No. 87-64 and the request of the Economic Development Authority to levy a tax. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Elk River, Minnesota, as follows: 1. The City Council of the City of Elk River hereby authorizes the levy of a tax in the amount of .75 mill, times the assessed valuation of taxable property in the City of Elk River, to be levied in the year 1988, for the benefit of the City of Elk River Economic Development Authority, to be used for Economic Development Authority purposes as provided under Minnesota statutes, Section 469.090, et seq. 2. The City Administrator is directed to have this Resolution published in the City's official newspaper. 3. This Resolution will take effect as provided by Minnesota Statutes, Section 469.107.