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<br />. <br /> <br />. <br /> <br />. <br /> <br />RESOLUTION 07-~ <br /> <br />A RESOLUTION OF THE CITY OF ELK RIVER <br /> <br />A RESOLUTION OF APPLICATION <br /> <br />WHEREAS, that the City of Elk River is hereby applying to the Minnesota Public <br />Facilities Authority for a loan to be used for the reimbursement of capital cost for the <br />described project: 193rd Avenue; <br /> <br />WHEREAS, that the City of Elk River estimates that it will require a loan in the maximum <br />principal amount of $2,431,500 for the project for the above stated purposes; <br /> <br />WHEREAS, that the City of Elk River has the legal authority to apply for the loan and the <br />capacity to ensure proper construction of the project and repayment of the loan; <br /> <br />NOW, THEREFORE, BE IT RESOLVED that the City of Elk River apply to the <br />Minnesota Public Facilities Authority for a loan for the 193rd Avenue project. <br /> <br />Passed and adopted this 18th day of June 2007. <br /> <br />~~~~ <br /> <br />::? ~d2 <br /> <br />Tina Allard, City Clerk <br /> <br />s: \Resolutions \2007 Resolutions \ Unapproved\ 193avenuebondresolution.doc <br />