MN SF1266

City of Edina may impose a one-half of one percent sales and use tax if approved by voters, with revenues used for Fred Richards Park and Braemar Park projects including debt service on bonds.

Increases authorized revenue for Braemar Park improvements from $21,600,000 to $53,300,000 plus associated bonding costs.

Maintains authorization of $17,700,000 plus bonding costs for Fred Richards Park development.

City may issue bonds up to $17,700,000 for Fred Richards Park and $53,300,000 for Braemar Park, which are exempt from debt limitations and levy limitations.

Sales and use tax expires at the earlier of 19 years after imposition or when sufficient funds are collected to cover authorized project costs and bond-related expenses, with any remaining funds placed in the city's general fund.