MN HF4094

City of Crosby authorized to impose a local sales and use tax of up to 0.5%, subject to voter approval at an election

Tax revenues designated for four specific projects totaling $3,000,000: Crosby Memorial Park rehabilitation ($1,200,000), Hallet Community Center renovation ($1,200,000), Jessie F. Hallet Memorial Library renovation ($200,000), and city hall renovations ($400,000)

City may issue bonds up to $3,000,000 plus issuance costs to finance the projects; bonds are excluded from city debt limitations and do not require a separate voter approval election

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

Any remaining funds after tax termination must be placed in the city's general fund; city may terminate the tax earlier by ordinance