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 its collection and administration, as well as financing the construction of a community center, with a total budget of $75,000,000, including bonding costs. The bill also allows Owatonna to issue bonds to finance these projects, with specific provisions regarding the amount of bonds, their security, and the exemption from certain debt limitations.

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 is contingent upon compliance with specific statutory requirements by the city's governing body and chief clerical officer.