This bill authorizes the city of Champlin to impose a local sales and use tax of up to one-half of one percent, contingent upon voter approval at an election. The revenues generated from this tax are designated for covering the costs of tax collection and administration, as well as financing the construction of a new indoor athletic facility, with a total budget of up to $18,000,000, including associated bonding costs. The bill stipulates that the provisions of Minnesota Statutes, section 297A.99, will govern the imposition, administration, collection, and enforcement of this tax.

Additionally, the bill grants Champlin the authority to issue bonds under Minnesota Statutes, chapter 475, to finance the project, with the total principal amount of bonds not exceeding $18,000,000. The bonds can be secured by any available city funds, including the new tax revenue. Importantly, the issuance of these bonds is exempt from certain debt limitations and does not require a separate election for approval. The tax will expire either 30 years after its imposition 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.