MN HF355

City of Cloquet may impose a one-half of one percent local sales and use tax, subject to voter approval at a general election.

Tax revenues must fund collection and administration costs plus capital and administrative costs for two projects: Pine Valley Regional Park Project (up to $2,124,700) and Cloquet Ice Arena restoration (up to $6,025,500).

City may issue bonds under Minnesota Statutes chapter 475 up to $8,150,200 to finance facilities, with bonds exempt from debt limitations and levy restrictions.

Tax expires at the earlier of 10 years after imposition or when sufficient revenues are collected to pay authorized project costs plus bond issuance costs, with remaining funds going to the city's general fund.

Legislation becomes effective after the city governing body and chief clerical officer comply with Minnesota Statutes section 645.021, subdivisions 2 and 3.