Section

Provision

1

Allows Mankato to extend its sales tax for different projects as approved by the voters at the November 2016 general election. The tax may be used to raise $47 million plus associated bond costs to fund:

• construction and improvements to regional recreational facilities including indoor athletic facilities;
• improvements to the flood control and levee system;
• water quality improvement projects in Blue Earth and Nicollet counties;
• expansion of a transit building and related transit improvements; and
• matching funds for regional facilities such as a historic museum, supportive housing, and a senior center.
   

2

Requires the tax to expire at the earlier of December 31, 2038, or when revenues are sufficient to fund the current projects.

3

Allows Mankato to issue an additional $47 million in bonds for the projects in section 1.
 

4

Authorizes the city of North Mankato to extend its existing sales tax to raise up to an additional $15 million for the currently funded projects and adds construction of athletic facilities to the existing uses for the tax revenues. The existing projects include an interchange, trails, a library, riverfront development, and lake improvement projects, with a total authorization of $6 million. The extension was approved by the voters at the November 2016 election. The tax expires at the earlier of December 31, 2038 or when revenues are sufficient to fund $21 million (the current $6 million authorization plus the $15 million proposed in the bill) in bond costs and interest.