This bill amends the existing authorization for the city of Baxter to impose a local sales tax, specifically updating the provisions related to the use of tax revenues, the issuance of bonds, and the termination of the tax. The bill allows Baxter to allocate up to an additional $40 million of tax revenues to a capital infrastructure fund for various projects, including upgrades to water and wastewater systems, street improvements, and the construction of a new public safety facility, contingent upon voter approval. Additionally, it introduces a provision that permits the city to issue bonds up to $77 million for these projects, with the debt not subject to local debt limitations.

Furthermore, the bill modifies the termination conditions for the local sales tax, allowing for extensions beyond the original expiration date if approved by voters. The new provisions specify that the taxes can be extended until an additional $77 million is raised or for a maximum of 20 years after the extension, providing more flexibility for funding essential infrastructure projects in Baxter. The effective date for these changes will take effect once the city’s governing body complies with specific statutory requirements.