Senate Counsel, Research
and Fiscal Analysis
Minnesota Senate Bldg.
95 University Avenue W. Suite 3300
St. Paul, MN 55155
(651) 296-4791
Tom Bottern
Director
   Senate   
State of Minnesota
 
 
 
 
 
S.F. No. 698 - Fairmont local sales tax authorization
 
Author: Senator Julie A. Rosen
 
Prepared By: Nora Pollock, Senate Counsel (651/297-8066)
 
Date: March 14, 2017



 

This bill authorizes the city of Fairmont to impose a 0.5% local sales tax, as approved by the voters in the November 2016 election, to finance capital and administrative costs of constructing and funding recreational amenities, trails, and a community center.

The bill authorizes the city to bond for up to $15 million for the projects. The local sales tax terminates at the earlier of 25 years or when the city council determines that sufficient funds have been raised from the taxes to pay the bonds issuance, including interest.

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

 
Check on the status of this bill
 
Back to Senate Counsel and Research Bill Summaries page
 

 
This page is maintained by the Office of Senate Counsel, Research, and Fiscal Analysis for the Minnesota Senate.
 
Last review or update: 03/14/2017
 
If you see any errors on this page, please e-mail us at webmaster@senate.mn