This bill authorizes the city of Owatonna to impose a local sales and use tax of one-half of one percent, contingent upon voter approval at a general election. The revenues generated from this tax are designated for covering the costs associated with collecting and administering the tax, as well as financing the construction of a community center, with a total budget of $75,000,000. The bill also allows Owatonna to issue bonds to finance these projects, with specific provisions ensuring that the bonds are not subject to certain debt limitations and do not require a separate election for approval.

Additionally, the bill stipulates that the local sales and use tax will expire either 25 years after its initial imposition or when the city council determines that sufficient funds have been collected to cover the project costs. It also permits the city to utilize any remaining revenues from a previously authorized local sales and use tax for the same purposes outlined in the bill. The effective date of this legislation will be the day after the city’s governing body and chief clerical officer fulfill the necessary compliance requirements.