S.F. No. 639 Summary

• Authorizes the city of Golden Valley to impose a 3/4 of one percent local sales and use tax upon voter approval at a general election.

• Tax revenues must fund three projects: $45,000,000 for public works facility construction, $15,000,000 for public works facility land purchase, and $45,000,000 for public safety facility construction, plus associated bonding costs and debt service.

• Allows Golden Valley to issue bonds up to $45,000,000, $15,000,000, and $45,000,000 respectively for the three projects, with bonds not subject to debt limitations or levy restrictions.

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

• Effective upon compliance with Minnesota Statutes section 645.021 by Golden Valley's governing body and chief clerical officer.