MN SF4539

Adds a third project category to Waite Park's local sales tax use authorization: up to $15,500,000 plus bonding costs for the 10th Avenue regional corridor project.

Increases bonding authority for the new project to $15,500,000 plus amounts for capitalized interest and issuance costs, with bonds exempt from state debt limitations and levy restrictions.

Extends the sales tax expiration period from 19 years to 20 years after initial imposition, or when sufficient revenues are collected to pay authorized project costs plus bond-related expenses.

Makes the 10th Avenue project authorization notwithstanding certain state statutes regarding local sales and use tax restrictions.

Effective the day after Waite Park's governing body and chief clerical officer comply with Minnesota Statutes section 645.021, subdivisions 2 and 3.