MN SF2073

City of East Grand Forks may impose a local sales and use tax of up to one percent upon voter approval at a general election.

Tax revenues must fund reconstruction and remodeling of the Civic Center Sports Complex ($6,745,000 plus bonding costs) and the VFW Memorial Arena and Blue Line Arena ($8,000,000 plus bonding costs).

City may issue bonds up to $6,745,000 for the Civic Center project and $8,000,000 for the arenas project, with bonds exempt from standard debt limitations and levy limitations.

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

Remaining funds after tax termination are placed in the city's general fund, except as otherwise provided under Minnesota Statutes section 297A.99.