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S.F. No. 496 - Spicer local option sales tax authorization (as proposed to be amended by the A-2 amendment)
 
Author: Senator Andrew R. Lang
 
Prepared By: Nora Pollock, Senate Counsel (651/297-8066)
 
Date: March 15, 2017



 

This bill authorizes the city of Spicer 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 the following projects:

  • Pedestrian public safety improvements;
  • Park and trail improvements; and
  • Improvements to regional community facilities

The bill authorizes the city to bond for up to $800,000 for the projects, plus bond issuance costs. The local sales tax terminates at the earlier of ten years after the tax was first imposed, December 31, 2017, or when the city council determines sufficient revenues have been raised to pay the bond costs, including interest.

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

 
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