MN SF1677

City of Bloomington may impose a one-half of one percent local sales and use tax if approved by voters at a general election.

Tax revenues must fund three specific projects: $35,000,000 for Bloomington Ice Garden construction and rehabilitation; $100,000,000 for a new Community Health and Wellness Center; and $20,000,000 for Nine Mile Creek Corridor Renewal, plus associated infrastructure costs.

City may issue up to $155,000,000 in bonds to finance all or part of the authorized projects, with bond issuance exempt from state debt limitations and levy restrictions.

Tax expires at the earlier of 20 years after imposition or when sufficient revenue is collected to pay project costs and bond-related expenses, or by earlier city ordinance.

Bonds are exempt from Minnesota Statutes sections 275.60 and 275.61, and a separate election to approve bonds is not required.