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Authorizing the issuance and negotiated sale of Sales Tax Revenue Refunding Bonds and approving certain documents in connection with the issuance of such obligations.
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WHEREAS, 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 “Sales Tax”); and
WHEREAS, the 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; and (vii) Laws of Minnesota 2013, Chapter 143, Article 8, Sections 44 and 45 (collectively, the “Local Sales Tax Act”); and
WHEREAS, in accordance with the provisions of the Local Sales Tax Act, the City Council of the City: (i) adopted resolutions approving such special laws comprising the Local Sales Tax Act that required local approval under Minnesota Statutes, Section 645.021; (ii) adopted resolutions declaring its intent to exercise the taxing authority under the Local Sales Tax Act and approving imposition of the Sales Tax; and (iii) timely filed a certificate as to each approval of a special law comprising the Local Sales Tax Act, together with the resolution approving such special law, with the Minnesota Secretary of St...
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