MN SF4225

Authorizes the city of Breckenridge to impose a 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, plus up to $1,800,000 for the city's share of constructing the Three Rivers Activity Complex, plus debt service on bonds issued for the project.

City may issue bonds up to $1,800,000 plus issuance costs under Minnesota Statutes chapter 475, with bonds exempt from debt limitations and levy restrictions and requiring no separate voter approval.

Tax expires at the earlier of 12 years after imposition or when sufficient funds are collected to pay project costs and bond-related expenses, with any remaining funds transferred to 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.