MN SF3978

City of Little Falls may impose a one-half of one percent local sales and use tax if approved by voters at a general election.

Tax revenues must be used to pay collection and administration costs and fund up to $17 million for constructing a community recreational facility including a gymnasium with indoor track, multipurpose rooms, office and storage space, and outdoor aquatic recreation facilities.

City may issue up to $17 million in bonds to finance the project costs, with bonds exempt from debt limitations and levy limitations, and no separate bond election required.

Tax expires at the earlier of 30 years after imposition or when sufficient funds are collected to pay project costs and bond-related expenses, with remaining funds placed in the city's general fund.

Provision becomes effective the day after the city's governing body and chief clerical officer comply with Minnesota Statutes section 645.021.