MN HF3044

Authorizes the city of Oak Park Heights to issue bonds or enter a loan agreement of up to $2,000,000 without a referendum to pay local costs related to a new trunk highway bridge over the St. Croix River in Washington County.

Defines "local bridge costs" as utility improvements, relocations, storm water improvements, and other related expenses attributable to the bridge construction that are not covered by other state or federal funds.

Creates a new fiscal disparities distribution mechanism where Oak Park Heights certifies annual debt service requirements, and the Washington County auditor adds this amount to the city's areawide levy while reducing other jurisdictions' levies proportionally.

Authorizes the supplemental fiscal disparities distribution to continue for eight years after the first year of implementation, with effectiveness beginning for taxes payable in 2013.

Exempts the authorized debt obligations from net debt limits under Minnesota Statutes and makes the section effective upon the city's compliance with local approval procedures.