This bill amends the existing authorization for the city of Elk River to impose a local sales tax, as established in Laws 2019, First Special Session chapter 6, article 6, section 17. The city is permitted to impose a sales and use tax of one-half of one percent, with the revenues to be used for specified purposes, including financing the construction of a new fire station. The bill introduces a new subdivision (2a) that mandates the use of tax revenues for this specific project, allowing the city to finance up to $20,000,000 plus associated bonding costs. Additionally, the bill clarifies that the project does not extend the termination requirements previously established.

Furthermore, the bill modifies the bonding authority for the city, increasing the maximum amount of bonds that can be issued from $35,000,000 to $55,000,000 for the projects outlined in the amended subdivisions. It also specifies that the bonds can be secured by any available funds, including the tax revenues, and states that the issuance of these bonds is not subject to certain debt limitations or levy limitations. The effective date for these amendments will take effect once the governing body of Elk River and its chief clerical officer comply with the relevant statutory requirements.