MN SF2405

Exempts the city of Woodbury from the referendum requirement in Minnesota Statutes section 475.58 to issue public debt for the Bielenberg Sports Center.

Allows Woodbury to issue obligations for renovating, improving, expanding, and equipping the Bielenberg Sports Center, including costs of issuance and capitalized interest.

Requires obligations to be secured by a pledge of revenues from the facility.

Requires the city to obtain analysis from a professional experienced in finance confirming that facility revenues plus the maximum annual property tax levy previously used to pay bonds for the facility will be sufficient to pay the obligations without additional property tax levy.

Takes effect the day after the Woodbury city governing body and chief clerical officer comply with Minnesota Statutes section 645.021, subdivisions 2 and 3.