MN SF2013

City of Hibbing may impose a one-half of one percent local sales and use tax upon voter approval at a general election.

Tax revenues must be used to pay collection and administration costs, and to finance up to $19,600,000 for construction of a regional public safety center.

City may issue bonds up to $19,600,000 plus costs of bond issuance, which are not subject to state debt limitations or levy limitations and do not require a separate election.

Tax expires at the earlier of 20 years after imposition or when sufficient revenue is collected to pay $19,600,000 in project costs plus all bond-related costs including interest.

Any remaining funds after tax termination are placed in the city's general fund; city may choose to terminate the tax earlier by ordinance.