S.F. No. 3349 Summary

• Expands eligible uses of Owatonna's local sales and excise tax revenues to include government building improvements ($705,000 maximum), Lake Chase Park and North Straight River trail projects ($1,050,000 maximum), additional West Hills and library improvements ($1,490,000 maximum), Maple Creek Basin watershed study and mitigation ($1,000,000 maximum), and 800 megahertz public safety radio system and outdoor warning sirens ($1,500,000 maximum).

• Requires voter approval by November 30, 2011 before revenues can be used for the newly authorized projects in addition to previously approved uses.

• Authorizes city to issue up to $5,745,000 in bonds for the new projects without requiring separate voter approval under Minnesota Statutes section 475.58.

• Extends tax termination date by adding one additional year for every $1,100,000 (or portion thereof) of additional projects approved under the new provisions.

• Bond debt is excluded from city debt limitations and associated tax levies are exempt from levy limitations.