City of Elk River amend local sales tax imposition authorization

This bill authorizes the City of Elk River to impose a local sales tax of 0.5% to help fund a new fire station. The tax requires voter approval at a general election and would generate revenue specifically designated for financing construction costs up to $20 million, plus associated bond expenses. The legislation also increases the city's bonding authority from $35 million to $55 million to cover project costs and exempts the bond issuance from certain state debt limits and separate voter approval requirements. Once enacted, the city and its clerk must follow state procedures to implement these changes before the tax and bonding authority take effect.