HF 49

as introduced - 87th Legislature (2011 - 2012) Posted on 01/10/2011 11:17am

A bill for an act
relating to taxation; sales and use tax authorization; city of Fergus Falls.

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

Section 1. new text begin CITY OF FERGUS FALLS; SALES AND USE TAX AUTHORIZED.
new text end

new text begin Subdivision 1. new text end

new text begin Sales and use tax. new text end

new text begin Notwithstanding Minnesota Statutes, section
297A.99, subdivision 1, or 477A.016, or any other provision of law, ordinance, or city
charter, the city of Fergus Falls may impose by ordinance a sales and use tax of up to
one-half of one percent for the purposes specified in subdivision 2. Except as provided in
this section, 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 Use of revenues. new text end

new text begin Revenues received from taxes authorized by subdivision
1 must be used by the city of Fergus Falls to pay the cost of collecting the tax and to pay
for all or part of the costs of the acquisition and betterment of a regional community ice
arena facility. Authorized expenses include, but are not limited to, acquiring property,
predesign, design, and paying construction, furnishing, and equipment costs related to
the facility and paying debt service on bonds or other obligations issued by the Fergus
Falls Port Authority to finance the facility.
new text end

new text begin Subd. 3. new text end

new text begin Termination of taxes. new text end

new text begin The tax imposed under this section expires when
the Fergus Falls City Council determines that sufficient funds have been received from
the taxes to finance the facility and to prepay or retire at maturity the principal, interest,
and premium due on any bonds, including refunding bonds, issued by the Fergus Falls
Port Authority for the facility. Any funds remaining after completion of the facility and
retirement or redemption of the bonds may be placed in the general fund of the city of
Fergus Falls. The tax imposed under subdivision 1 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 the governing body
of the city of Fergus Falls and its chief clerical officer timely comply with Minnesota
Statutes, section 645.021, subdivisions 2 and 3.
new text end