City of Lanesboro local sales and use tax imposition authorization

This bill authorizes the City of Lanesboro to impose a local sales and use tax of up to 0.5% if approved by voters at a future election. The tax revenue would specifically fund two projects: $500,000 for improvements to Sylvan Park and $2,000,000 for road improvements on Trunk Highway 250. The legislation also allows the city to issue up to $2.5 million in bonds to help finance these projects, with the tax revenue potentially used to pay bond interest and principal. The tax would expire after 30 years or once the city determines sufficient funds have been collected to cover the approved project costs and related expenses.