MN SF3809

Home rule charter cities and statutory cities must hold a public referendum before entering lease-purchase agreements for capital improvements that are financed by revenue bonds issued by an economic development authority

Economic development authorities must follow election requirements under section 475.521, subdivision 2 before issuing revenue bonds to finance capital improvement projects that will be leased to cities

Capital improvements subject to the referendum requirement are those defined under section 475.521, subdivision 1, paragraph (b)

Amends Minnesota Statutes sections 465.71 (installment and lease-purchase provisions) and 469.103 (economic development authority powers) to add new referendum requirements