MN HF3969

City of Marshall may impose a sales and use tax of up to one-half of one percent if approved by voters at a general election, with separate ballot questions for two facility projects.

Initial tax revenues fund the Minnesota Emergency Response and Industry Training Center and Southwest Minnesota Regional Amateur Sports Center, with authorization for up to $17,290,000 in bonds.

After repayment of initial bonds, the city may extend the tax for 30 years to fund a $16,000,000 municipal aquatic center project, with authorization for up to $16,000,000 in additional bonds.

Tax imposed under initial authorization expires at the earlier of 15 years or when revenues equal authorized facility costs plus bond issuance costs; extended tax expires at the earlier of 30 years or when project costs are paid.

Bonds issued are exempt from debt limitations and levy limitations, and no separate election is required to approve the bonds.