MN HF4086

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

Tax revenues designated for two specific projects: $500,000 for Sylvan Park rehabilitation and improvements, and $2,000,000 for Trunk Highway 250 road improvements

City may issue bonds up to $2,500,000 (plus issuance costs) to finance the projects, with bonds excluded from city debt limitations and not requiring a separate voter approval

Tax expires at the earlier of 30 years after first imposed or when sufficient revenue is collected to cover project costs and bond-related expenses

Remaining funds after tax termination go to the city's general fund; city may terminate the tax earlier by ordinance