MN SF2913

City of Isle authorized to impose a local sales and use tax of up to one-half of one percent, subject to voter approval at the next general election.

Tax revenues must be used for park system improvements, street and infrastructure improvements, municipal building improvements, airport improvements, bridge replacement, and utility systems improvements, plus collection and administration costs.

City may issue up to $3,000,000 in bonds under Minnesota Statutes chapter 475 to finance authorized facility costs, exempt from debt limitations and levy restrictions.

Tax expires at the earlier of 20 years after imposition or when the city receives $3,000,000 plus bond-related costs; city council may terminate earlier by ordinance.

Remaining funds after project completion and bond retirement go to the city's general fund.