MN SF3709

City of Osseo authorized to impose a 1% local sales and use tax, subject to voter approval at an election

Tax revenues fund three projects totaling $13.5 million: Boerboom Park Community Hub Project ($10,000,000), City Hall Renovations Project ($3,000,000), and Sipe Park Project ($500,000)

City may issue bonds up to the project amounts plus issuance costs; bonds are excluded from city debt limitations and do not require a separate bond election

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

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