MN HF1304

Authorizes the city of Fergus Falls to impose a local sales and use tax of one-half of one percent, subject to voter approval at a general election.

Tax revenues must be used to pay collection and administration costs and to finance three specific projects: $7,800,000 for an aquatics center, $2,500,000 for a regional trails project, and $5,200,000 for the DeLagoon Improvement Project.

Authorizes the city to issue bonds under Minnesota Statutes chapter 475 to finance all or part of these projects, with bond amounts not exceeding the project costs plus capitalized interest and issuance costs.

Bonds issued are exempt from state debt limitations and levy limitations, and no separate election for bond approval is required.

The tax expires at the earlier of December 1, 2039, or when the city council determines sufficient revenues have been collected to pay project costs and bond-related expenses, with any remaining funds placed in the city's general fund.