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S.F. No. 3485 - Two Harbors local sales and use tax authority modification (as proposed to be amended by the A-2 amendment)
 
Author: Senator Thomas M. Bakk
 
Prepared By: Nora Pollock, Senate Counsel (651/297-8066)
 
Date: May 7, 2018



 

This bill authorizes the city of Two Harbors to impose an additional local sales and use tax by 0.5% to fund water and sewer infrastructure projects, including gravity-fed sewer mains, water mains, drain tile, service lines, street patching, acquiring property, and related engineering and construction expenses. The voters must approve the increase at the November 2018 election. The city is authorized to issue bonds up to $30 million for the projects. The tax terminates at the earlier of 25 years or when the city council determines sufficient amounts have been raised to finance the projects and associated bond payments.

Effective upon filing of local approval with the Secretary of State.

 

 
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