Minnesota Legislature
HF 4832
as introduced - 92nd Legislature (2021 - 2022) Posted on 04/26/2022 09:51am
Current Version - as introduced
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A bill for an act
relating to taxation; sales and use; modifying the Waite Park local sales tax
authorization; amending Laws 2021, First Special Session chapter 14, article 8,
section 20, subdivisions 2, 3, 4.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Section 1.
Laws 2021, First Special Session chapter 14, article 8, section 20, subdivision
2, is amended to read:
Subd. 2.
Use of sales and use tax revenues.
new text begin (a) new text end The revenues derived from the tax
authorized under subdivision 1 must be used by the city of Waite Park to pay the costs of
collecting and administering the tax and for the following projects in the city, including
securing and paying debt service on bonds issued to finance all or part of the following
projects:
(1) up to $7,500,000 plus associated bonding costs for regional trail connections; deleted text begin and
deleted text end
(2) up to $20,000,000 plus associated bonding costs for construction and equipping of
a public safety facilitynew text begin ; and
new text end
new text begin (3) notwithstanding Minnesota Statutes, section 297A.99, subdivision 2, paragraph (d),
up to $15,500,000 plus associated bonding costs for the 10th Avenue regional corridor
projectnew text end .
new text begin
(b) The modification to the use of sales and use tax revenues under paragraph (a), clause
(3), is notwithstanding the requirements of Minnesota Statutes, section 297A.99, subdivision
2, paragraphs (a) and (b).
new text end
new text begin EFFECTIVE DATE. new text end
new text begin
This section is effective the day after the governing body of the
city of Waite Park and its chief clerical officer comply with Minnesota Statutes, section
645.021, subdivisions 2 and 3.
new text end
Sec. 2.
Laws 2021, First Special Session chapter 14, article 8, section 20, subdivision 3,
is amended to read:
Subd. 3.
Bonding authority.
(a) The city of Waite Park may issue bonds under Minnesota
Statutes, chapter 475, to finance all or a portion of the costs of the facilities authorized in
subdivision 2 and approved by the voters as required under Minnesota Statutes, section
297A.99, subdivision 3, paragraph (a). The aggregate principal amount of bonds issued
under this subdivision may not exceed:
(1) $7,500,000 for the project listed in subdivision 2, clause (1), plus an amount needed
to pay capitalized interest and an amount to be applied to the payment of the costs of issuing
the bonds; deleted text begin and
deleted text end
(2) $20,000,000 for the project listed in subdivision 2, clause (2), plus an amount needed
to pay capitalized interest and an amount to be applied to the payment of the costs of issuing
the bondsnew text begin ; and
new text end
new text begin (3) $15,500,000 for the project listed in subdivision 2, clause (3), plus an amount needed
to pay capitalized interest and an amount to be applied to the payment of the costs of issuing
the bondsnew text end .
The bonds may be paid from or secured by any funds available to the city of Waite Park,
including the tax authorized under subdivision 1. The issuance of bonds under this
subdivision is not subject to Minnesota Statutes, sections 275.60 and 275.61.
(b) The bonds are not included in computing any debt limitation applicable to the city
of Waite Park, and any levy of taxes under Minnesota Statutes, section 475.61, to pay
principal and interest on the bonds is not subject to any levy limitation. A separate election
to approve the bonds under Minnesota Statutes, section 475.58, is not required.
new text begin EFFECTIVE DATE. new text end
new text begin
This section is effective the day after the governing body of the
city of Waite Park and its chief clerical officer comply with Minnesota Statutes, section
645.021, subdivisions 2 and 3.
new text end
Sec. 3.
Laws 2021, First Special Session chapter 14, article 8, section 20, subdivision 4,
is amended to read:
Subd. 4.
Termination of taxes.
Subject to Minnesota Statutes, section 297A.99,
subdivision 12, the tax imposed under subdivision 1 expires at the earlier of (1) deleted text begin 19deleted text end new text begin 20new text end years
after the tax is first imposed, or (2) when the city council determines that the amount received
from the tax is sufficient to pay for the project costs authorized under subdivision 2 for
projects approved by voters as required under Minnesota Statutes, section 297A.99,
subdivision 3, paragraph (a), plus an amount sufficient to pay the costs related to issuance
of any bonds authorized under subdivision 3, including interest on the bonds. Except as
otherwise provided in Minnesota Statutes, section 297A.99, subdivision 3, paragraph (f),
any funds remaining after payment of the allowed costs due to the timing of the termination
of the tax under Minnesota Statutes, section 297A.99, subdivision 12, shall be placed in the
general fund of the city. The tax imposed under subdivision 1 may expire at an earlier time
if the city so determines by ordinance.
new text begin EFFECTIVE DATE. new text end
new text begin
This section is effective the day after the governing body of the
city of Waite Park and its chief clerical officer comply with Minnesota Statutes, section
645.021, subdivisions 2 and 3.
new text end