HF 3749

as introduced - 84th Legislature (2005 - 2006) Posted on 12/15/2009 12:00am

A bill for an act
relating to taxation; authorizing the city of Breezy Point to impose sales and use
and motor vehicle excise taxes and issue general obligation bonds.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1. new text begin CITY OF BREEZY POINT; TAXES AUTHORIZED.
new text end

new text begin Subdivision 1. new text end

new text begin Sales and use tax authorized. new text end

new text begin Notwithstanding Minnesota Statutes,
section 477A.016, or any other provision of law, ordinance, or city charter, pursuant to
the approval of the voters at the general election on November 7, 2006, and pursuant to
Minnesota Statutes, section 297A.99, the city of Breezy Point may impose by ordinance
a sales and use tax of one-half of one percent for the purposes specified in subdivision
3. The provisions of Minnesota Statutes, section 297A.99, govern the imposition,
administration, collection, and enforcement of the tax authorized under this subdivision.
new text end

new text begin Subd. 2. new text end

new text begin Excise tax authorized. new text end

new text begin Notwithstanding Minnesota Statutes, section
477A.016, or any other contrary provision of law, ordinance, or city charter, the city of
Breezy Point may impose by ordinance, for the purposes specified in subdivision 3, an
excise tax of up to $20 per motor vehicle, as defined by ordinance, purchased or acquired
from any person engaged within the city of Breezy Point in the business of selling motor
vehicles at retail.
new text end

new text begin Subd. 3. new text end

new text begin Use of revenues. new text end

new text begin Revenues received from the taxes authorized by
subdivisions 1 and 2 must be used to pay the cost of collecting and administering the
tax and to finance sanitary sewer, storm sewer, street infrastructure, and public safety
improvements as approved by the voters at the referendum authorizing the tax. Authorized
costs include, but are not limited to, acquiring property and paying construction and
engineering costs related to the projects.
new text end

new text begin Subd. 4. new text end

new text begin Bonds. new text end

new text begin The city of Breezy Point, pursuant to the approval of the voters at
the referendum authorizing the imposition of the taxes in this section, may issue general
obligation bonds of the city, in one or more series, in the aggregate principal amount not to
exceed $11,000,000 to finance the projects listed in subdivision 3. The debt represented
by the bonds is not included in computing any debt limitations applicable to the city, and
the levy of taxes required by Minnesota Statutes, section 475.61, to pay the principal of
and interest on the bonds is not subject to any levy limitation or included in computing or
applying any levy limitation applicable to the city.
new text end

new text begin Subd. 5. new text end

new text begin Termination of taxes. new text end

new text begin The taxes imposed under subdivisions 1 and 2
expire 15 years after the imposition of the tax or when the Breezy Point City Council
first determines that the amount of revenues raised from the taxes to pay for the projects
equals or exceeds $11,000,000 plus any interest on bonds issued for the projects under
subdivision 3, whichever is earlier. Any funds remaining after the expiration of the taxes
and retirement of the bonds may be placed in the general fund or in a capital project fund
of the city of Breezy Point. The taxes imposed under subdivisions 1 and 2 may expire
at an earlier time if the city so determines by ordinance.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective the day after compliance by the
governing body of the city of Breezy Point with Minnesota Statutes, section 645.021,
subdivision 3.
new text end