MN SF2848

City of Jackson may impose a one percent sales and use tax, subject to voter approval at a general election, to finance an outdoor athletic complex project.

Tax revenues must be used to pay collection and administration costs, and to finance up to $5,750,000 in construction, renovation, and improvements to the athletic complex, including debt service on bonds.

City may issue bonds up to $5,750,000 principal amount, which are not subject to debt limitation calculations or levy limitations and do not require separate voter approval.

Tax expires at the earlier of 30 years after imposition or when the city council determines sufficient funds have been collected to pay project costs and bond-related expenses, with any remaining funds deposited to the city's general fund.

Effective date is the day after the city of Jackson's governing body and chief clerical officer comply with Minnesota Statutes section 645.021.