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Resolution 18- 0z <br />A Resolution of the City of Elk River Economic Development Authority <br />Establishing the 2019 Referendum Tax Levy as Approved by Voters for a <br />Recreational Facility to be leased to the YMCA <br />WHEREAS, on September 12, 2006, the voters of the City of Elk River approved a <br />referendum pledging the City's full faith, credit, and resources to $12,000,000 of bonds for a <br />recreational facility to be leased to the YMCA; and <br />WHEREAS, in 2013, the EDA issued $9,685,000 cross-over refunding bonds to redeem <br />the Series 2007 Bonds on February 1, 2017. <br />NOW, THEREFORE, BE IT RESOLVED by the Economic Development Authority <br />of the City of Elk River, Minnesota, as follows: that it hereby levies a tax of $511,166 for <br />taxes payable in 2019 for the purposes of funding the debt service on $9,685,000 of bonds as <br />approved by voters to build a recreational facility to be leased to the YMCA. <br />Passed and adopted this 20`s day of August, 2018 <br />A <br />A a Othoudt, Executive Director <br />Dan Tveite, President <br />IRtEREI Ir <br />NATURE <br />