MN SF2511

City of Woodbury may impose a 0.5% sales and use tax upon voter approval at a general election, subject to Minnesota Statutes section 297A.99.

Tax revenues must be used to pay collection and administration costs and finance up to $50,000,000 plus bonding costs for constructing a new public safety campus.

City may issue bonds under Minnesota Statutes chapter 475 with principal not exceeding $50,000,000 plus issuance costs, exempt from debt limitations and levy limitations.

Tax expires at the earlier of 20 years after imposition or when city council determines sufficient revenue has been collected to cover the $50,000,000 project cost and bond-related expenses.

Any remaining funds after allowed costs are paid must be placed in the city's general fund, though the city may terminate the tax earlier by ordinance.