This bill amends the local sales tax provisions for the city of St. Peter, Minnesota, as outlined in Laws 2021, First Special Session chapter 14, article 8, section 17. It allows the city to impose a sales and use tax of one-half of one percent, contingent upon voter approval at a general election. The bill introduces new language that permits the city to modify the tax and specifies that the revenues generated must be used for certain projects, including $9,900,000 for specified improvements and an additional $1,950,000 for Phase 2 of Gorman Park improvements.

Furthermore, the bill increases the bonding authority for the city from $9,121,000 to $11,850,000 for financing these projects. It also clarifies that the tax will expire either 40 years after its imposition or when the city council determines that sufficient funds have been collected to cover the project costs and bond issuance expenses. The effective date for these changes will take effect once the city’s governing body and chief clerical officer comply with specific statutory requirements.