08-07-2023 WS - Laserfiche WebLink

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A RESOLUTION RELATED TO THE IMPOSITION OF A LOCAL SALES TAX AND AUTHORIZING A SPECIAL ELECTION THEREON DURING THE NOVEMBER 7, 2023 UNIFORM ELECTION DATE WHEREAS, Minnesota Statutes, Section 297A.99 (the "Local Tax Act"), provides the City of Mounds View, Minnesota (the "City") with authority to impose a local sales tax if that tax is authorized by the State Legislature pursuant to special law, the City submits the local sales tax for approval by the voters of the City, and the voters of the City approve the imposition of the local sales tax; and WHEREAS, State of Minnesota (the "State") Legislature passed and the Governor of the State signed Minnesota Laws, 2023, Regular Session, Chapter 64, Article 10, Section 41 (the "Special Law") which authorizes the City to, among other things, impose a local sales tax; and WHEREAS, the Special Law is effective upon approval by a majority vote of the City Council of the City (the "Council") and the filing of a certificate with the Secretary of State accepting the Special Law (the "Certificate of Approval"), all in accordance with Minnesota Statutes, Section 645.021, subdivisions 2 and 3; and WHEREAS, by resolution adopted by a majority vote of the Council on August 14, 2023, the Council approved the Special Law and thereafter, the City Clerk will file the Certificate of Approval with the Secretary of State. NOW THEREFORE, BE IT RESOLVED by the City Council of the City of Mounds View as follows: 1. The Council proposes to submit to electors the question of whether to imposed a local sales and use tax of one and one-half of one percent (1.5%) (the "Taxes") on items that are taxable by the State in order to raise revenues to finance the construction of an expanded community center turning it into regional amateur sports aarecreation facility (the "Project"), including securing and paying debt service on bonds issued to finance such project and associated bond issuance costs. The question of extending the Taxes shall be submitted to the qualified electors of the City as one city ballot question as show in Exhibit A attached hereto. 2. The Taxes are proposed to be collected for a period expiring at the earlier 20 years after the tax is first imposed or until this Council determines that the amount of revenues received from the Taxes is sufficient to pay $16,500,000 for construction of the Project, plus associated bonding costs, including interest on the bonds. 3. The Council finds that it is in the best interest of the City and its residents and that it is necessary and expedient to the sound financial management of the affairs of the City that the acquisition and betterment of the Project be financed in whole or in part by the issuance and sale of the City's general obligation bonds pursuant to Minnesota Statutes, Chapter 475, as amended, in one or more series in an aggregate principal amount not to exceed $ 18,370,000, plus an amount equal to the costs of the issuance of said bonds (the "Bonds"), including interest on the Bonds. 4. The question set forth in Exhibit A shall be submitted to the qualified electors of the City at a special election which is hereby called and directed to be held on Tuesday, November 7, 2023.