MN HF4053

City of Forest Lake authorized to impose a local sales and use tax of up to 0.5% if approved by voters at an election

Tax revenues must fund construction of a new public works facility, with project costs capped at $50,000,000 plus associated bonding costs

City may issue bonds up to $50,000,000 principal plus issuance costs; bonds are excluded from city debt limitations and do not require a separate bond approval election

Tax expires at the earlier of 20 years after first imposed or when sufficient revenue has been collected to cover project and bond costs

Effective the day after Forest Lake's governing body and chief clerical officer complete required compliance procedures