MN SF2516

Increases the city of Avon's bonding authority from $1,500,000 to $8,135,000 plus issuance costs for authorized projects.

Raises the tax collection threshold from $1,500,000 to $8,135,000 before the local sales tax expires.

Requires voter approval at a general election within two years of the bill becoming effective for modifications to take effect.

Bonds are exempt from state debt limitations and separate bond approval elections under Minnesota Statutes sections 275.60, 275.61, and 475.58.

Tax expires at the earlier of December 31, 2045, or when $8,135,000 plus bond issuance costs are collected; remaining funds go to the city's general fund.