Modifies Sauk Centre local sales tax authorization, including bonding authority and tax termination.

The bill modifies the Sauk Centre local sales tax authorization by exempting sales and use tax interest on bonds from any levy limitation. It eliminates the need for a separate election to approve the bonds. The tax will terminate when the city council determines that $10,000,000 to $20,000,000 has been collected to cover project costs and bond issuance costs, or by December 31, 2045, whichever comes first. The city can issue bonds up to $10,000,000 to $20,000,000, with the bonds not subject to certain debt limitations. The changes are effective upon voter approval.

Modifies Sauk Centre local sales tax authorization, including bonding authority and tax termination.

The bill modifies the Sauk Centre local sales tax authorization by exempting sales and use tax interest on bonds from any levy limitation. It eliminates the need for a separate election to approve the bonds. The tax will terminate when the city council determines that $10,000,000 to $20,000,000 has been collected to cover project costs and bond issuance costs, or by December 31, 2045, whichever comes first. The city can issue bonds up to $10,000,000 to $20,000,000, with the bonds not subject to certain debt limitations. The changes are effective upon voter approval.