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Authorizing the issuance and negotiated sales of Tax-Exempt Sales Tax Revenue and Refunding Bonds and approving certain documents in connection with the issuance of such sales tax revenue obligations.
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WHEREAS, the City of Saint Paul, a home rule city, municipal corporation, and political subdivision of the State of Minnesota (the “City”) is authorized to impose an additional sales tax of up to one-half of one percent (0.5%) on sales transactions in the City taxable under Minnesota Statutes, Chapter 297A, as amended, and a use tax at the same rate for the use, storage, distribution, or consumption in the City of personal property purchased without payment of the City sales tax (the City sales tax and use tax are hereinafter referred to as the "0.5% Sales Tax"); and
WHEREAS, the 0.5% Sales Tax is authorized by Laws of Minnesota 1993, Chapter 375, Article 9, Section 46, as amended by: (i) Laws of Minnesota 1997, Chapter 231, Article 7, Section 40; (ii) Laws of Minnesota 1998, Chapter 389, Article 8, Sections 30-32 and 36-37; (iii) Laws of Minnesota 2002, Chapter 377, Article 3, Section 21; (iv) Laws of Minnesota 2003, First Special Session, Chapter 21, Article 8, Section 13; (v) Laws of Minnesota 2005, First Special Session, Chapter 3, Article 5, Sections 26 and 27; (vi) Laws of Minnesota 2009, Chapter 88, Article 4, Sections 15, 16, and 18; (vii) Laws of Minnesota 2013, Chapter 143, Article 8, Sections 44 and 45; and (viii) Laws of Minnesota 2023, Chapter 64, Article 10, Sections 2-5 (collectively, the "Sales Tax Act"); and
WHEREAS, the 2023 amendments to the Sales Tax Act authorized the City to hold an election whereby the voters in the City could approve the institution of a separate and distinct One Cent Sales and Use Tax (the “1% Sales Tax”) dedicated solely to fund parks and recreation projects and road improvements in the City and pay related costs of borrowing; and
WHEREAS, the 1% Sales Tax was approved by a majority of the voters voting at an ...
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