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S.F. No. 407 - Fergus Falls local sales tax authorization
 
Author: Senator Bill Ingebrigtsen
 
Prepared By: Nora Pollock, Senate Counsel (651/297-8066)
 
Date: March 14, 2017



 

This bill authorizes the city of Fergus Falls to impose a 0.5% local sales tax, as approved by the voters in the November 2016 election, to finance costs of expansion and betterment of the Fergus Falls Public Library.

The bill authorizes the city to bond for up to $9.8 million for the projects, plus bond issuance costs. The local sales tax terminates at the earlier of 12 years or when the city council determines that sufficient funds have been raised from the taxes to pay the bond issuance, including interest.

Effective the day after the city files its approval with the Secretary of State.

 
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