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MN SF2065
Bill
Status
Introduced
2/27/2023
Primary Sponsor
Melissa Wiklund
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AI Summary
- Authorizes the city of Richfield to impose a 0.5% sales and use tax upon voter approval at a general election.
- Tax revenues must fund three specific projects: $11,000,000 for Wood Lake Nature Center building, $9,000,000 for Veterans Park Complex, and $45,000,000 for Richfield Community Center Project, plus associated bonding costs.
- Allows the city to issue bonds up to $65,000,000 (plus bond issuance costs) to finance all or part of the authorized projects, exempt from debt limitations and levy restrictions.
- Tax expires at the earlier of 20 years after imposition or when sufficient funds are collected to pay project costs and related bond expenses, or earlier by city ordinance.
- Remaining funds after project completion and bond repayment are placed in the city's general fund.
Legislative Description
Richfield authorization to impose a local sales and use tax for specified projects
Last Action
Referred to Taxes
2/27/2023
Committee Referrals
Taxes2/27/2023
Full Bill Text
No bill text available