Minnesota SF3809 requires referendums for certain capital improvement projects by economic development authorities.

Minnesota SF3809 amends state statutes to require referendums for certain capital improvement projects by economic development authorities. Specifically, home rule charter cities or statutory cities must follow election requirements for lease-purchase agreements that qualify as capital improvements and are financed by revenue bonds issued by an economic development authority. The bill also mandates that certain revenue bonds issued for capital improvement projects that will be leased to a city must follow the same election requirements.

Minnesota SF3809 requires referendums for certain capital improvement projects by economic development authorities.

Minnesota SF3809 amends state statutes to require referendums for certain capital improvement projects by economic development authorities. Specifically, home rule charter cities or statutory cities must follow election requirements for lease-purchase agreements that qualify as capital improvements and are financed by revenue bonds issued by an economic development authority. The bill also mandates that certain revenue bonds issued for capital improvement projects that will be leased to a city must follow the same election requirements.