Minnesota HF3377 requires referendums for certain capital improvement projects financed by economic development authorities.
Minnesota HF3377 amends state statutes to require referendums for capital improvement projects financed by economic development authorities. Specifically, it mandates that an authority must follow election requirements to issue revenue bonds for projects that qualify as capital improvements and will be leased to a home rule charter city or statutory city. Additionally, a home rule charter city or statutory city must follow election requirements for entering lease-purchase agreements for capital improvement projects financed by revenue bonds issued by an economic development authority.
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