Authorizes the City of Glencoe to impose a local sales tax for park improvements and trail network upgrades.
The bill authorizes the City of Glencoe to impose a local sales tax of up to one-half of one percent. The tax revenue will fund specific projects, including $350,000 for Railroad Depot Park, $1,700,000 for the city trail network, and other park improvements. The city can issue bonds to finance these projects, with a maximum bond amount of $2,725,000. The tax can be terminated earlier if the city council determines the revenue is sufficient to cover project costs and bond-related expenses. The tax is subject to voter approval and governed by Minnesota Statutes.
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