This bill authorizes the city of Forest Lake to impose a local sales and use tax of up to one-half of one percent, contingent upon voter approval. The tax is intended to finance the construction of a new public works facility, with a total funding cap of $50,000,000, including associated bonding costs. The bill outlines that the revenues from this tax will cover the costs of tax collection and administration, as well as the project itself. Additionally, the city is granted the authority to issue bonds to finance the project, with specific provisions ensuring that these bonds are not subject to certain debt limitations and do not require a separate election for approval.

The bill also stipulates that the local sales tax will expire either 20 years after its implementation or when the city council determines that sufficient funds have been raised to cover the project costs and bond issuance expenses. Any remaining funds after the tax termination will be allocated to the city's general fund. 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.