MN SF3694

City of Minnetonka 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 five specific projects totaling $116,100,000: Fire Station 2 ($13,000,000), Fire Station 3 ($17,600,000), missing trail segment construction ($34,000,000), The Marsh health and wellness center renovations ($35,000,000), and The Opus Area community park ($16,500,000)

City may issue bonds up to $116,100,000 plus issuance costs to finance the projects; bonds are excluded from city debt limits and do not require a separate voter approval election

Tax expires at the earlier of 30 years after first imposed or when sufficient revenue has been collected to cover all project and bond costs

Effective upon compliance by the city's governing body and chief clerical officer with statutory local approval requirements