MN SF3560

Authorizes the city of Owatonna to impose a local sales and use tax of 0.5% if approved by voters at a general election

Tax revenues would fund $75,000,000 plus associated bonding costs for construction of a community center

City may issue bonds up to $75,000,000 plus issuance costs, which are exempt from city debt limitations and do not require a separate bond election

Tax expires after 25 years or when sufficient funds are collected to cover project and bonding costs, whichever comes first

Allows the city to use remaining revenues from a previously authorized local sales tax (Laws 2006, chapter 259) for the community center project