MN SF4352

City of Forest Lake authorized to impose a local sales and use tax of up to 0.5% if approved by voters at an election

Tax revenues must fund construction of a new public works facility, up to $50,000,000 plus associated bonding costs and tax collection/administration expenses

City may issue bonds up to $50,000,000 (plus issuance costs) to finance the project; 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 is collected to cover project costs and bond obligations

Any remaining funds after tax termination transfer to the city's general fund