MN HF693

Authorizes the city of Grand Rapids to impose a one percent local sales and use tax, subject to voter approval at a general election.

Tax revenues must be used to finance up to $10,980,000 for reconstruction, remodeling, and upgrades to the Grand Rapids IRA Civic Center, including design, construction, mechanical upgrades, and engineering costs.

Permits Grand Rapids to issue bonds up to $10,980,000 plus bond issuance costs under Minnesota Statutes chapter 475, with bonds exempt from debt limitations and levy limitations.

Tax expires when the city council determines $10,980,000 plus bond-related costs and interest have been received, with remaining funds placed in the city general fund.

The tax may expire earlier by city ordinance determination.